Question 1

Capabilities are defined as a company's

Accepted Answer

A) physical plant and equipment. 
B) technological know-how. 
C) skills at coordinating resources and putting them to productive use. 
D) reputation. 
E) resources. 
A) physical plant and equipment. 
B) technological know-how. 
C) skills at coordinating resources and putting them to productive use. 
D) reputation. 
E) resources.

Question 2

A company may fail for which of the following reasons?

Accepted Answer

A) The company loses its competitive advantage. 
B) The company's profitability declines. 
C) The company neglects to change strategies and structures. 
D) All of these choices 
E) None of these choices 
A) The company loses its competitive advantage. 
B) The company's profitability declines. 
C) The company neglects to change strategies and structures. 
D) All of these choices 
E) None of these choices

Question 3

At the heart of any company's business model is the combination of congruent strategies aimed at creating distinctive competencies that differentiate its products and result in a lower cost structure.

Accepted Answer

A) True 
 B)False

Question 4

A rapid response time is one of the key factors that enables the fashion house Zara to quickly address changes in the fashion industry.

Accepted Answer

A) True 
 B)False

Question 5

Discuss the relationships among distinctive competitive advantage,distinctive competencies,resources,and capabilities.

Accepted Answer

The primary objective of strategy is to

Question 6

The price a company charges for a good or service is typically more than the utility placed on that good or service by the customer.

Accepted Answer

A) True 
 B)False

Question 7

The building blocks of competitive advantage are efficiency,quality,innovation,and profitability.

Accepted Answer

A) True 
 B)False

Question 8

Competitive advantage is based on

Accepted Answer

A) distinctive competencies. 
B) economic forces external to a company. 
C) lack of government regulations controlling a firm's ability to make rapid adjustments in response to its changing environment. 
D) all of these choices 
E) none of these choices. 
A) distinctive competencies. 
B) economic forces external to a company. 
C) lack of government regulations controlling a firm's ability to make rapid adjustments in response to its changing environment. 
D) all of these choices 
E) none of these choices.

Question 9

Efficiency is

Accepted Answer

A) defined as the time it takes to produce a product. 
B) defined as the cost of inputs required to produce a given output. 
C) pursued only by cost leaders. 
D) measured by looking at a product's price. 
E) lower when the output is high-quality. 
A) defined as the time it takes to produce a product. 
B) defined as the cost of inputs required to produce a given output. 
C) pursued only by cost leaders. 
D) measured by looking at a product's price. 
E) lower when the output is high-quality.

Question 10

The Icarus paradox can be overcome if a company

Accepted Answer

A) achieves superior innovation. 
B) balances its pursuit of distinctive competencies. 
C) develops its marketing expertise. 
D) pursues a growth strategy. 
E) achieves superior quality at a low cost. 
A) achieves superior innovation. 
B) balances its pursuit of distinctive competencies. 
C) develops its marketing expertise. 
D) pursues a growth strategy. 
E) achieves superior quality at a low cost.

Question 11

When a company has differentiated products,they have less pricing options.

Accepted Answer

A) True 
 B)False

Question 12

Absorptive capacity refers to the ability of an enterprise to identify,value,assimilate,and use new knowledge.

Accepted Answer

A) True 
 B)False

Question 13

Customer responsiveness includes which of the following?

Accepted Answer

A) Identifying and satisfying customer needs 
B) Improving the quality of a company's products 
C) The willingness to customize products for customers 
D) Superior product design 
E) All of these choices 
A) Identifying and satisfying customer needs 
B) Improving the quality of a company's products 
C) The willingness to customize products for customers 
D) Superior product design 
E) All of these choices

Question 14

How profitable a company is ultimately depends on

Accepted Answer

A) management's evaluation of the utility of a product. 
B) product utility created through advertising. 
C) the value of the patents the company holds. 
D) the image of the company's products in the marketplace. 
E) the value customers place on the company's products. 
A) management's evaluation of the utility of a product. 
B) product utility created through advertising. 
C) the value of the patents the company holds. 
D) the image of the company's products in the marketplace. 
E) the value customers place on the company's products.

Question 15

The most successful firms are those that constantly learn and upgrade their distinctive competencies.

Accepted Answer

A) True 
 B)False

Question 16

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs.Cost accountants work in which value chain activity?

Accepted Answer

A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure 
A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure

Question 17

Ford Motors developed the Explorer sports utility vehicle,the number 1 selling sports utility vehicle in the United States,based on an extensive study of customer preferences.Which value chain activity of Ford conducted those studies?

Accepted Answer

A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure 
A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure

Question 18

Mike works as a corporate trainer,teaching new employees how to perform manufacturing tasks.Mike works in which value chain activity?

Accepted Answer

A) Research and development 
B) Human resources 
C) Materials management 
D) Production 
E) Company infrastructure 
A) Research and development 
B) Human resources 
C) Materials management 
D) Production 
E) Company infrastructure

Question 19

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Accepted Answer

A) True 
 B)False

Question 20

Walmart pursues a low cost operator policy.

Accepted Answer

A) True 
 B)False

Capabilities are defined as a company's

A company may fail for which of the following reasons?

At the heart of any company's business model is the combination of congruent strategies aimed at creating distinctive competencies that differentiate its products and result in a lower cost structure.

A rapid response time is one of the key factors that enables the fashion house Zara to quickly address changes in the fashion industry.

Discuss the relationships among distinctive competitive advantage,distinctive competencies,resources,and capabilities.

The price a company charges for a good or service is typically more than the utility placed on that good or service by the customer.

The building blocks of competitive advantage are efficiency,quality,innovation,and profitability.

Competitive advantage is based on

Efficiency is

The Icarus paradox can be overcome if a company

When a company has differentiated products,they have less pricing options.

Absorptive capacity refers to the ability of an enterprise to identify,value,assimilate,and use new knowledge.

Customer responsiveness includes which of the following?

How profitable a company is ultimately depends on

The most successful firms are those that constantly learn and upgrade their distinctive competencies.

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs.Cost accountants work in which value chain activity?

Ford Motors developed the Explorer sports utility vehicle,the number 1 selling sports utility vehicle in the United States,based on an extensive study of customer preferences.Which value chain activity of Ford conducted those studies?

Mike works as a corporate trainer,teaching new employees how to perform manufacturing tasks.Mike works in which value chain activity?

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Walmart pursues a low cost operator policy.

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

Capabilities are defined as a company's

A company may fail for which of the following reasons?

At the heart of any company's business model is the combination of congruent strategies aimed at creating distinctive competencies that differentiate its products and result in a lower cost structure.

A rapid response time is one of the key factors that enables the fashion house Zara to quickly address changes in the fashion industry.

Discuss the relationships among distinctive competitive advantage,distinctive competencies,resources,and capabilities.

The price a company charges for a good or service is typically more than the utility placed on that good or service by the customer.

The building blocks of competitive advantage are efficiency,quality,innovation,and profitability.

Competitive advantage is based on

Efficiency is

The Icarus paradox can be overcome if a company

When a company has differentiated products,they have less pricing options.

Absorptive capacity refers to the ability of an enterprise to identify,value,assimilate,and use new knowledge.

Customer responsiveness includes which of the following?

How profitable a company is ultimately depends on

The most successful firms are those that constantly learn and upgrade their distinctive competencies.

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs.Cost accountants work in which value chain activity?

Ford Motors developed the Explorer sports utility vehicle,the number 1 selling sports utility vehicle in the United States,based on an extensive study of customer preferences.Which value chain activity of Ford conducted those studies?

Mike works as a corporate trainer,teaching new employees how to perform manufacturing tasks.Mike works in which value chain activity?

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Walmart pursues a low cost operator policy.

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