Question 1

Resources

Accepted Answer

A) are the tangible assets available to a company. 
B) can be tangible or intangible. 
C) are harder for a company to copy than capabilities are. 
D) are the products of a company's control systems. 
E) refer to an organization's skills. 
A) are the tangible assets available to a company. 
B) can be tangible or intangible. 
C) are harder for a company to copy than capabilities are. 
D) are the products of a company's control systems. 
E) refer to an organization's skills.

Question 2

Donna can make a chair for about $100,she charges customers $150 to buy the chair,and customers perceive that the chair is worth $225.In this case,the consumer surplus is

Accepted Answer

A) $50. 
B) $75. 
C) $100. 
D) $150. 
E) $225. 
A) $50. 
B) $75. 
C) $100. 
D) $150. 
E) $225.

Question 3

Comment on this statement: "No competitive advantage lasts forever."

Accepted Answer

Students will acknowledge that this stat

Question 4

A product can be thought of as a(n)

Accepted Answer

A) package of possibilities. 
B) configuration of parts. 
C) one-time purchase. 
D) package of attributes. 
E) series of alternatives. 
A) package of possibilities. 
B) configuration of parts. 
C) one-time purchase. 
D) package of attributes. 
E) series of alternatives.

Question 5

A company's competitive advantage is more durable when

Accepted Answer

A) barriers to imitation are low and there are few capable competitors. 
B) barriers to imitation are high and there are many capable competitors. 
C) barriers to imitation are high. 
D) the industry is stable and there are many capable competitors. 
E) the industry is stable and barriers to imitation are low. 
A) barriers to imitation are low and there are few capable competitors. 
B) barriers to imitation are high and there are many capable competitors. 
C) barriers to imitation are high. 
D) the industry is stable and there are many capable competitors. 
E) the industry is stable and barriers to imitation are low.

Question 6

Competitive advantage typically leads to

Accepted Answer

A) an effective business model. 
B) average profitability within an industry. 
C) superior profitability. 
D) making procedures routine. 
E) flexibility in manufacturing. 
A) an effective business model. 
B) average profitability within an industry. 
C) superior profitability. 
D) making procedures routine. 
E) flexibility in manufacturing.

Question 7

According to Rose Marie Bravo of Burberry,creative ideas may come from a number of sources,except from the accounting department.

Accepted Answer

A) True 
 B)False

Question 8

The more utility a company creates for its customers,the more flexibility it has in determining prices.

Accepted Answer

A) True 
 B)False

Question 9

The four basic building blocks of competitive advantage are

Accepted Answer

A) low cost,quality,efficiency,and customer responsiveness. 
B) differentiation,quality,innovation,and customer responsiveness. 
C) quality,efficiency,differentiation,and customer responsiveness. 
D) customer responsiveness,quality,efficiency,and human resources. 
E) quality,customer responsiveness,innovation,and efficiency. 
A) low cost,quality,efficiency,and customer responsiveness. 
B) differentiation,quality,innovation,and customer responsiveness. 
C) quality,efficiency,differentiation,and customer responsiveness. 
D) customer responsiveness,quality,efficiency,and human resources. 
E) quality,customer responsiveness,innovation,and efficiency.

Question 10

Cost of goods sold is determined by examining which of the following?

Accepted Answer

A) The balance sheet 
B) Sources and uses of the financial statement 
C) The cash budget 
D) The income statement 
E) The overhead and administrative expense statement 
A) The balance sheet 
B) Sources and uses of the financial statement 
C) The cash budget 
D) The income statement 
E) The overhead and administrative expense statement

Question 11

Which of the follow support activities in the value chain refers to the companywide context within which all the other value creation activities take place?

Accepted Answer

A) Human resources 
B) Information systems 
C) Company infrastructure 
D) Materials management 
E) Operations 
A) Human resources 
B) Information systems 
C) Company infrastructure 
D) Materials management 
E) Operations

Question 12

The most important source of McDonald's low cost structure is the high quality of its products.

Accepted Answer

A) True 
 B)False

Question 13

Capabilities refer to a company's

Accepted Answer

A) tangible resources. 
B) intangible resources. 
C) skills at coordinating its resources and putting them to productive use. 
D) strategy as expressed in the firm's business model. 
E) policies. 
A) tangible resources. 
B) intangible resources. 
C) skills at coordinating its resources and putting them to productive use. 
D) strategy as expressed in the firm's business model. 
E) policies.

Question 14

Distinctive competencies are firm-specific strengths that allow a company to differentiate its products and/or achieve substantially lower costs than its rivals.

Accepted Answer

A) True 
 B)False

Question 15

Resources are tangible; there is no such thing as intangible resources.

Accepted Answer

A) True 
 B)False

Question 16

Factors that help a company to build and sustain competitive advantage include which of the following?

Accepted Answer

A) Superior efficiency 
B) Product quality 
C) Innovation 
D) Customer responsiveness 
E) All of these choices 
A) Superior efficiency 
B) Product quality 
C) Innovation 
D) Customer responsiveness 
E) All of these choices

Question 17

Kim's T-shirt factory was expert at providing unique,high-quality,but costly to make shirts.Even though the designs were very nice and the amount of detail increased over time,the high price meant that few customers bought shirts from her and her factory went bankrupt.Kim's factory failed due to

Accepted Answer

A) inertia. 
B) prior strategic commitments. 
C) the Icarus paradox. 
D) lack of distinctive competencies. 
E) lack of capabilities. 
A) inertia. 
B) prior strategic commitments. 
C) the Icarus paradox. 
D) lack of distinctive competencies. 
E) lack of capabilities.

Question 18

Taken together,factors such as existing strategic commitments and low absorptive capacity limit the ability of established competitors to imitate the competitive advantage of a rival.

Accepted Answer

A) True 
 B)False

Question 19

At the most basic level,a business is simply a device for

Accepted Answer

A) transforming inputs into outputs. 
B) transporting products from one location to another. 
C) converting outputs into inputs. 
D) transferring title to goods from one party to another. 
E) conserving outputs. 
A) transforming inputs into outputs. 
B) transporting products from one location to another. 
C) converting outputs into inputs. 
D) transferring title to goods from one party to another. 
E) conserving outputs.

Question 20

Which of the following distinctive competencies typically has the lowest barrier to imitation?

Accepted Answer

A) Efficient scale manufacturing facilities 
B) Technological know-how 
C) Marketing know-how 
D) Organizational capabilities 
E) Brand name 
A) Efficient scale manufacturing facilities 
B) Technological know-how 
C) Marketing know-how 
D) Organizational capabilities 
E) Brand name

Resources

Donna can make a chair for about $100,she charges customers $150 to buy the chair,and customers perceive that the chair is worth $225.In this case,the consumer surplus is

Comment on this statement: "No competitive advantage lasts forever."

A product can be thought of as a(n)

A company's competitive advantage is more durable when

Competitive advantage typically leads to

According to Rose Marie Bravo of Burberry,creative ideas may come from a number of sources,except from the accounting department.

The more utility a company creates for its customers,the more flexibility it has in determining prices.

The four basic building blocks of competitive advantage are

Cost of goods sold is determined by examining which of the following?

Which of the follow support activities in the value chain refers to the companywide context within which all the other value creation activities take place?

The most important source of McDonald's low cost structure is the high quality of its products.

Capabilities refer to a company's

Distinctive competencies are firm-specific strengths that allow a company to differentiate its products and/or achieve substantially lower costs than its rivals.

Resources are tangible; there is no such thing as intangible resources.

Factors that help a company to build and sustain competitive advantage include which of the following?

Kim's T-shirt factory was expert at providing unique,high-quality,but costly to make shirts.Even though the designs were very nice and the amount of detail increased over time,the high price meant that few customers bought shirts from her and her factory went bankrupt.Kim's factory failed due to

Taken together,factors such as existing strategic commitments and low absorptive capacity limit the ability of established competitors to imitate the competitive advantage of a rival.

At the most basic level,a business is simply a device for

Which of the following distinctive competencies typically has the lowest barrier to imitation?

Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

External Analysis: The Identification of Opportunities and Threats

Building Competitive Advantage Through Functional-Level Strategy

Building Competitive Advantage Through Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy in Companies That Compete in a Single Industry

Implementing Strategy in Companies That Compete Across Industries and Countries

Filters

Exam 3: Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability

Resources

Donna can make a chair for about $100,she charges customers $150 to buy the chair,and customers perceive that the chair is worth $225.In this case,the consumer surplus is

Comment on this statement: "No competitive advantage lasts forever."

A product can be thought of as a(n)

A company's competitive advantage is more durable when

Competitive advantage typically leads to

According to Rose Marie Bravo of Burberry,creative ideas may come from a number of sources,except from the accounting department.

The more utility a company creates for its customers,the more flexibility it has in determining prices.

The four basic building blocks of competitive advantage are

Cost of goods sold is determined by examining which of the following?

Which of the follow support activities in the value chain refers to the companywide context within which all the other value creation activities take place?

The most important source of McDonald's low cost structure is the high quality of its products.

Capabilities refer to a company's

Distinctive competencies are firm-specific strengths that allow a company to differentiate its products and/or achieve substantially lower costs than its rivals.

Resources are tangible; there is no such thing as intangible resources.

Factors that help a company to build and sustain competitive advantage include which of the following?

Kim's T-shirt factory was expert at providing unique,high-quality,but costly to make shirts.Even though the designs were very nice and the amount of detail increased over time,the high price meant that few customers bought shirts from her and her factory went bankrupt.Kim's factory failed due to

Taken together,factors such as existing strategic commitments and low absorptive capacity limit the ability of established competitors to imitate the competitive advantage of a rival.

At the most basic level,a business is simply a device for

Which of the following distinctive competencies typically has the lowest barrier to imitation?

Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

External Analysis: The Identification of Opportunities and Threats

Building Competitive Advantage Through Functional-Level Strategy

Building Competitive Advantage Through Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy in Companies That Compete in a Single Industry

Implementing Strategy in Companies That Compete Across Industries and Countries

Filters