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Exam 3: Assessing the Internal Environment of the Firm

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Question 41

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Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if

A) suppliers are loyal to the firm.
B) their expertise is firm-specific.
C) the cost to the firm of replacing them is high.
D) the firm's resources are path dependent.

E) A) and D)
F) A) and C)

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Question 42

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The customer perspective of the balanced scorecard answers which of the following questions?

A) How do customers see us?
B) What must we excel at?
C) How do we look to shareholders?
D) Can we continue to improve and create value?

E) C) and D)
F) A) and D)

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Question 43

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Intangible resources are typically embedded in ________ routines and practices that have evolved and accumulated over time.

According to Michael Porter in his book,Competitive Advantage,a key concept used in analyzing the competitive position of a firm is creating value for

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the

Groupon offers online coupons for bargains at local shops and restaurants.Which of the following is a reason that rivals are limiting its growth?

Some leading-edge companies are applying the prosumer concept.Here,firms team up with their suppliers and alliance partners to satisfy their customer needs.

Capabilities that exhibit causal ambiguity are difficult to imitate.

An executive states that HR must be a true partner of the business,with a deep and up-to-date understanding of business realities and objectives,and must ensure HR initiatives fully support them at all points of the value chain.This is an example of

In value-chain analysis,value is measured by the market value of the total stock outstanding of the company.

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain

Which of these categories of financial ratios is used to measure the ability of a firm to meet its short-term financial obligations?

The resource-based view (RBV) of the firm combines the following two perspectives:

Advertising is a ________ activity.Supply of replacement parts is a ________ activity.

To be considered strategic resources that contribute competitive advantage,they must have several characteristics.Which of the following is not one of these?

XYZ printing is building a dominant position as the low-cost leader in the 3D printer market.Three resources the firm can draw on to build a sustainable advantage are(1) an efficient supply chains and manufacturing system,(2) internal control systems to minimize cost,and (3) competencies in the R&D of electronic products.This set of competencies will make it harder for later movers to imitate.This is an example of using ________ conditions to build protection in the 3D printing market.

General administration is sometimes viewed as only ________,but it can be a powerful source of competitive advantage.

A firm's financial position should not be analyzed in isolation.Important reference points are needed.Discuss how historical comparisons,comparisons with industry norms,and comparisons with key competitors can be used to make financial analysis more meaningful.

Regarding the value-chain concept,the most important interrelationship is between the organization and its

Information technology (IT)can also play a key role in enhancing the value that a company can provide its customers and,in turn,increasing its own revenues and profits.IT is an activity within the support activities of general administration.