Question 1

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

Accepted Answer

A)   rare
B)   valuable
C)   easy for competitors to substitute
D)   difficult for competitors to imitateE) B) and C)
F) A) and B)

Question 2

Comparing your firm with all other firms in your industry assesses ________ performance.

Accepted Answer

A)   excessive
B)   consistent
C)   relative
D)   non-comparableE) All of the above
F) B) and C)

Question 3

The internal measures should reflect business processes that have ________ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Accepted Answer

A)   the least
B)   variable
C)   the most
D)   potentialE) All of the above
F) None of the above

Question 4

An important implication of the balanced scorecard approach is that

Accepted Answer

A)   managers need to recognize that satisfaction of stockholder demands is their primary job.
B)   the emphasis on customer satisfaction and financial goals are only a means to that end.
C)   managers should not look at their job as primarily balancing stakeholder demands.
D)   gains in financial performance must come at a cost of employee satisfaction.E) None of the above
F) B) and C)

Question 5

For an engineering services firm,________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

Accepted Answer

A)   experimentation
B)   customer support
C)   research and development
D)   human resource managementE) A) and D)
F) All of the above

Question 6

________ are the competencies or skills that a firm employs to transform inputs into outputs.

Accepted Answer

A)   Tangible resources
B)   Reputational resources
C)   Organizational capabilities
D)   Intangible resourcesE) C) and D)
F) B) and C) C

Question 7

Which of the following is a support activity?

Accepted Answer

A)   inbound logistics
B)   customer service
C)   technology development
D)   operationsE) C) and D)
F) A) and C)

Question 8

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

Accepted Answer

A)   Google
B)   Kmart
C)   Wells Fargo
D)   WalmartE) All of the above
F) C) and D) A

Question 9

The value-chain concept assumes that both primary and support activities can produce value for customers.

Accepted Answer

A) True 
 B)False

Question 10

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

Accepted Answer

A)   tangible resources.
B)   intangible resources.
C)   organizational capabilities.
D)   strong primary activities.E) None of the above
F) A) and C)

Question 11

The root of the 3M innovation process is complex,hard to understand,and difficult to imitate.This is a competitive advantage based on

Accepted Answer

A)   path dependency.
B)   social complexity.
C)   casual ambiguity.
D)   availability.E) A) and B)
F) A) and D)

Question 12

________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.

Accepted Answer

A)   Tangible resources
B)   Intangible resources
C)   Reputational resources
D)   Organizational capabilitiesE) None of the above
F) A) and B)

Question 13

Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

Accepted Answer

A balanced scorecard provides top managers with a fast but comprehensive view of the business.In a nutshell,it includes financial measures that reflect the results of actions already taken,but it complements these indicators with measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization (operational measures that drive future financial performance).

Question 14

________ ratios reflect whether a firm is efficiently using its resources,

Accepted Answer

A)   Turnover
B)   Leverage
C)   Liquidity.
D)   ProfitabilityE) C) and D)
F) All of the above

Question 15

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ________,which is ________.

Accepted Answer

A)   financial position; an intangible resource
B)   brand image; an intangible resource
C)   brand image; a tangible resource
D)   technological resources; an intangible resourceE) A) and B)
F) A) and C)

Question 16

Which of the following groups generally is charged with creating value through the process of organizing,coordinating,and leveraging employees as well as other forms of capital such as plant,equipment,and financial capital?

Accepted Answer

A)   unions
B)   boards of directors
C)   managers
D)   stakeholdersE) A) and B)
F) A) and C)

Question 17

Which of the following examples demonstrates how successful organizations manage their primary activities?

Accepted Answer

A)   Motorola has revised its compensation system to reward employees who learn a variety of skills.
B)   Wal-Mart implemented a sophisticated information system that resulted in reduced inventory carrying costs and shortened customer response times.
C)   National Steel improved its efficiency by reducing the number of job classifications.
D)   JIT inventory systems are vital to Toyota committing to fulfill new car orders within five days.E) C) and D)
F) A) and D)

Question 18

A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.

Accepted Answer

A)   short-term
B)   long-term
C)   relative
D)   comparableE) C) and D)
F) A) and C)

Question 19

The Germany truck and trailer manufacturer,Schmitz Cargobull,mainly serves customers who are operators of truck or trailer fleets.What sets the company apart is its expertise in telematics (the integrated application of telecommunications data) to monitor the current state of any Schmitz Cargobull-produced trailer.What type of a value-chain support activity is this?

Accepted Answer

A)   service
B)   technology development
C)   human resource management
D)   general administrationE) B) and D)
F) None of the above

Question 20

When Nordstrom,the Seattle-based department store chain,aids customers with after-sales support,it exemplifies which primary value-chain activity?

Accepted Answer

A)   operations
B)   outbound logistics
C)   inbound logistics
D)   serviceE) All of the above
F) C) and D)

Exam 3: Assessing the Internal Environment of the Firm

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

Correct Answer
verified

Comparing your firm with all other firms in your industry assesses ________ performance.

Correct Answer
verified

The internal measures should reflect business processes that have ________ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Correct Answer
verified

An important implication of the balanced scorecard approach is that

Correct Answer
verified

For an engineering services firm,________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

Correct Answer
verified

________ are the competencies or skills that a firm employs to transform inputs into outputs.

Correct Answer
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C

Which of the following is a support activity?

Correct Answer
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The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

Correct Answer
verified
A

The value-chain concept assumes that both primary and support activities can produce value for customers.

Correct Answer
verified

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

Correct Answer
verified

The root of the 3M innovation process is complex,hard to understand,and difficult to imitate.This is a competitive advantage based on

Correct Answer
verified

________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.

Correct Answer
verified

Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

________ ratios reflect whether a firm is efficiently using its resources,

Correct Answer
verified

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ,which is .

Correct Answer
verified

Which of the following groups generally is charged with creating value through the process of organizing,coordinating,and leveraging employees as well as other forms of capital such as plant,equipment,and financial capital?

Correct Answer
verified

Which of the following examples demonstrates how successful organizations manage their primary activities?

Correct Answer
verified

A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.

Correct Answer
verified

Correct Answer
verified

When Nordstrom,the Seattle-based department store chain,aids customers with after-sales support,it exemplifies which primary value-chain activity?

Correct Answer
verified

Exam 3: Assessing the Internal Environment of the Firm

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

Correct AnswerverifiedShow Answer

Comparing your firm with all other firms in your industry assesses ________ performance.

Correct AnswerverifiedShow Answer

The internal measures should reflect business processes that have ________ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Correct AnswerverifiedShow Answer

An important implication of the balanced scorecard approach is that

Correct AnswerverifiedShow Answer

For an engineering services firm,________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

Correct AnswerverifiedShow Answer

________ are the competencies or skills that a firm employs to transform inputs into outputs.

Correct AnswerverifiedC

Which of the following is a support activity?

Correct AnswerverifiedShow Answer

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

Correct AnswerverifiedA

The value-chain concept assumes that both primary and support activities can produce value for customers.

Correct AnswerverifiedShow Answer

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

Correct AnswerverifiedShow Answer

The root of the 3M innovation process is complex,hard to understand,and difficult to imitate.This is a competitive advantage based on

Correct AnswerverifiedShow Answer

________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.

Correct AnswerverifiedShow Answer

Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

________ ratios reflect whether a firm is efficiently using its resources,

Correct AnswerverifiedShow Answer

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ________,which is ________.

Correct AnswerverifiedShow Answer

Which of the following groups generally is charged with creating value through the process of organizing,coordinating,and leveraging employees as well as other forms of capital such as plant,equipment,and financial capital?

Correct AnswerverifiedShow Answer

Which of the following examples demonstrates how successful organizations manage their primary activities?

Correct AnswerverifiedShow Answer

A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When Nordstrom,the Seattle-based department store chain,aids customers with after-sales support,it exemplifies which primary value-chain activity?

Correct AnswerverifiedShow Answer

Correct Answer
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C

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A

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Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ,which is .

Correct Answer
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