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Chapter 3 - Evaluating a Firm's Internal Capabilities

Beschreibung

Quiz am Chapter 3 - Evaluating a Firm's Internal Capabilities, erstellt von Strategy IO am 28/12/2016.
Strategy IO
Quiz von Strategy IO, aktualisiert more than 1 year ago
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Zusammenfassung der Ressource

Frage 1

Frage
________ in the RBV are defined as the tangible and intangible assets that a firm controls that it can use to conceive and implement its strategies.
Antworten
  • Management controls
  • Capabilities
  • Resources
  • Compensation policies

Frage 2

Frage
________ are a subset of a firm's resources and are defined as tangible and intangible assets that enable a firm to take full advantage of other resources it controls.
Antworten
  • Retained earnings
  • Capabilities
  • Human resources
  • Financial resources

Frage 3

Frage
A firm's marketing skills and teamwork as well as its cooperation among managers are examples of
Antworten
  • financial resources.
  • human resources.
  • physical resources.
  • capabilities.

Frage 4

Frage
The training, experience, judgment, intelligence, relationships and insight of individual managers and workers in a firm are examples of
Antworten
  • physical resources.
  • human resources.
  • organizational resources.
  • financial resources.

Frage 5

Frage
Computer hardware and software technology, robots used in manufacturing and automated warehouses are examples of which type of resources?
Antworten
  • financial resources.
  • physical resources
  • human resources
  • organizational resources

Frage 6

Frage
A firm's formal reporting structure, its formal and informal planning and its controlling and coordinating systems are examples of which type of resources?
Antworten
  • financial resources
  • physical resources
  • human resources
  • organizational resources

Frage 7

Frage
The VRIO assumption that some of the resource and capability differences among firms may be long lasting because it may be very costly for firms without certain resources and capabilities to develop or acquire them is known as
Antworten
  • resource mobility.
  • resource homogeneity.
  • resource immobility.
  • resource heterogeneity.

Frage 8

Frage
________ implies that for a given business activity, some firms may be more skilled in accomplishing this activity than other firms.
Antworten
  • Resource mobility
  • Resource homogeneity
  • Resource immobility
  • Resource heterogeneity

Frage 9

Frage
The theoretical roots of the resource-based view can be traced to research done by
Antworten
  • David Ricardo.
  • Adam Smith.
  • Oliver Williamson.
  • Joseph Schumpeter.

Frage 10

Frage
Inputs whose quantity of supply is fixed and does not respond to price increases are said to be
Antworten
  • elastic in supply.
  • inelastic in supply.
  • elastic in demand.
  • perfectly competitive.

Frage 11

Frage
To the extent that a firm's resources and capabilities enhance a firm's competitive position by enabling a firm to exploit its opportunities or neutralize its threats, these resources and capabilities are valuable and are known as
Antworten
  • temporary competitive advantages.
  • sustainable competitive advantages.
  • core competencies.
  • strengths.

Frage 12

Frage
The set of business activities in which a firm engages to develop, produce, and market its products or services is known as its
Antworten
  • value chain.
  • physical resources.
  • organizational resources.
  • human resources.

Frage 13

Frage
If in the process of maximizing its performance, a firm engages in activities that pollute the environment, the impact of that pollution is a(n)
Antworten
  • capability.
  • externality.
  • competitive advantage.
  • weakness.

Frage 14

Frage
ESPN's development of an extensive offering of X-Games coverage that is unmatched by any other sports outlet is an example of which element of the VRIO framework?
Antworten
  • organization
  • imitability
  • competitive parity
  • rarity

Frage 15

Frage
Most firms have a resource base that is composed primarily of resources and capabilities that are
Antworten
  • valuable but not rare.
  • neither valuable nor rare.
  • valuable and rare.
  • rare but not valuable.

Frage 16

Frage
Which of the following is not one of the six distinct activities in McKinsey and Company's value chain model?
Antworten
  • technology development
  • product design
  • manufacturing
  • inbound logistics

Frage 17

Frage
In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate perfect competition dynamics in an industry, that resource or capability can be considered ________ and a potential source of competitive advantage.
Antworten
  • valuable
  • rare
  • inimitable
  • un-substitutable

Frage 18

Frage
If firms that do not possess valuable and rare resources or capabilities face a cost disadvantage in obtaining these resources or capabilities compared to the firms that already possess them, these resources and capabilities are termed
Antworten
  • rare.
  • valuable.
  • imperfectly imitable.
  • perfectly imitable.

Frage 19

Frage
Firms that possess and exploit costly-to-imitate, rare and valuable resources in choosing and implementing their strategies may enjoy a period of
Antworten
  • temporary competitive advantage.
  • competitive disadvantage.
  • competitive parity.
  • sustained competitive advantage.

Frage 20

Frage
If a firm's resources and capabilities are costly to imitate because imitating firms may not understand the relationship between the resources and capabilities controlled by a firm and that firm's competitive advantage, this competitive advantage is said to be protected from imitation by
Antworten
  • path dependence.
  • causal ambiguity.
  • unique historical conditions.
  • social complexity.

Frage 21

Frage
Resources and capabilities, such as interpersonal relations among managers and a firm's culture, that may be costly to imitate because they are beyond the ability of firms to systematically manage and influence are referred to as
Antworten
  • socially complex.
  • causally ambiguous.
  • path dependent.
  • the result of unique historical conditions.

Frage 22

Frage
According to the research in strategic human resources management,
Antworten
  • firms that are able to use human resource practices to develop socially complex human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices.
  • firms that are able to use human resource practices to develop socially simplistic human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices.
  • firms that are able to use human resource practices to develop socially complex human and organizational resources gain little advantage over firms that do not engage in these practices.
  • firms that are able to use human resource practices to develop socially complex human and organizational resources are at a competitive disadvantage when compared to firms that do not engage in these practices.

Frage 23

Frage
Which of the following statements regarding patents is accurate?
Antworten
  • Patents always increase the costs of imitation.
  • Patents may decrease, rather than increase, the costs of imitation.
  • Patents always decrease the costs of imitation.
  • Patents have no impact on the costs of imitation.

Frage 24

Frage
The range of formal and informal mechanisms to ensure that managers are behaving in ways consistent with a firm's strategies are referred to as
Antworten
  • formal reporting structures.
  • organizational charts.
  • compensation policies.
  • management control systems.

Frage 25

Frage
Which of the following is an example of formal management controls?
Antworten
  • a firm's culture
  • the willingness of employees to monitor each other
  • budgeting and reporting activities
  • managerial motivation

Frage 26

Frage
Southwest Airlines' strong internal culture that helps ensure that employees act in ways consistent with the company's strategy is an example of a(n)
Antworten
  • informal management control.
  • formal management control.
  • compensation policy.
  • formal reporting structure.

Frage 27

Frage
Resources that are valuable but not rare can be categorized as
Antworten
  • organizational weaknesses.
  • distinctive competencies.
  • organizational strengths.
  • complementary resources and capabilities.

Frage 28

Frage
Resources that generate a temporary competitive advantage are
Antworten
  • valuable, rare and costly to imitate.
  • valuable but neither rare nor costly to imitate.
  • valuable and either rare or costly to imitate.
  • valuable and rare but not costly to imitate.

Frage 29

Frage
If a resource or capability is valuable and rare but not costly to imitate, exploiting this resource will generate a(n)
Antworten
  • sustained competitive advantage.
  • perfectly competitive environment.
  • temporary competitive advantage.
  • environment characterized by competitive parity.

Frage 30

Frage
Resources and capabilities that are valuable, rare, and costly to imitate are best described as
Antworten
  • distinctive competencies.
  • entry barriers.
  • complementary resources and capabilities.
  • sustainable distinctive competencies.

Frage 31

Frage
If Delta Airlines were to significantly change its fare structure and flight schedule to enhance its competitive position in response to aggressive price cutting by Southwest Airlines, this would be an example of
Antworten
  • explicit collusion.
  • tacit collusion.
  • competitive dynamics.
  • a harvest strategy.

Frage 32

Frage
Any actions a firm takes that have the effect of reducing the level of rivalry in an industry that also do not require firms in an industry to directly communicate or negotiate with each other can be thought of as
Antworten
  • tacit cooperation.
  • tacit collusion.
  • explicit collusion.
  • competitive parity.

Frage 33

Frage
When tacit cooperation has the effect of reducing supply and increasing prices, it is known as
Antworten
  • monopolistic competition.
  • explicit collusion.
  • competitive parity.
  • tacit collusion.

Frage 34

Frage
Tacit cooperation is only a viable strategy when
Antworten
  • an industry is perfectly competitive.
  • an industry is heterogeneous with respect to the products it sells and their cost structure.
  • there is a strong market share leader in the industry.
  • there are low entry barriers in the industry.

Frage 35

Frage
The specific actions a firm takes to implement its strategies are known as
Antworten
  • competitive advantages.
  • objectives.
  • goals.
  • tactics.

Frage 36

Frage
Which of the following statements regarding the resource-based view is accurate?
Antworten
  • Competitively valuable resources and capabilities are controlled only by a firm's general managers.
  • Only lower level employees need to accept the responsibility of creating, nurturing and exploiting resources and capabilities that can generate competitive advantages for a firm.
  • Employees should define their jobs in functional terms instead of in competitive and economic terms.
  • Competitive advantage is too important to remain the sole property of senior management.

Frage 37

Frage
Which of the following statements regarding competitive parity and competitive advantage is accurate?
Antworten
  • Some firms develop valuable, rare, and costly-to-imitate resources and capabilities in being efficient second movers, that is, in rapidly imitating and improving on the product and technological innovations of other firms.
  • Firms that benchmark their performance against the performance of successful competitors can expect to develop at least a temporary competitive advantage.
  • Firms must be first movers to gain competitive advantages.
  • Even if all a firm does is create value in the same way as its competitors, the firm can expect to earn at least a temporary competitive advantage.

Frage 38

Frage
If there is a conflict between the resources a firm controls and that firm's organization, ________ should be changed.
Antworten
  • the resources
  • both
  • nothing
  • the organization

Frage 39

Frage
A process is said to be ________ when events early in the evolution of a process have significant effects on subsequent events.
Antworten
  • causally ambiguous
  • path dependent
  • socially complex
  • path independent

Frage 40

Frage
LaserTech's new technology appears to be
Antworten
  • valuable and rare but not costly to imitate.
  • valuable and either rare or costly to imitate.
  • valuable but neither rare nor costly to imitate.
  • valuable, rare and costly to imitate.

Frage 41

Frage
If one of LaserTech's rivals were to decide to divest its industrial laser manufacturing business in response to LaserTech's new technology, this would be an example of
Antworten
  • competitive dynamics.
  • tacit collusion.
  • a sustainable distinctive competence.
  • competitive parity.

Frage 42

Frage
If LaserTech's new technological development were due to proprietary investments the company made when it was first founded twenty years ago, this would be an example of
Antworten
  • social complexity.
  • tacit collusion.
  • path dependence.
  • causal ambiguity.

Frage 43

Frage
LaserTech's new technology is an example of
Antworten
  • financial resources.
  • physical resources.
  • human resources.
  • organizational resources.

Frage 44

Frage
The inability of rivals to develop or acquire technology similar to that of LaserTech is an illustration of
Antworten
  • resource immobility.
  • resource heterogeneity.
  • causal ambiguity.
  • path dependence.

Frage 45

Frage
Bates' culture is an example of a(n)
Antworten
  • informal management control.
  • formal management control.
  • compensation policy.
  • formal reporting structure.

Frage 46

Frage
The budgeting and reporting activities that Bates uses are examples of
Antworten
  • informal management controls.
  • formal reporting structures.
  • formal management controls.
  • primary value chain activities.

Frage 47

Frage
The reward system Bates uses to encourage employees to find ways to reduce costs is an example of a(n)
Antworten
  • sustained distinctive competence.
  • informal management control.
  • formal reporting structure.
  • compensation policy.

Frage 48

Frage
The fact that it would be would be difficult and costly for firms to match Bates' capabilities in the tool industry indicates that these capabilities are
Antworten
  • imperfectly imitable.
  • causally ambiguous.
  • substitutable.
  • perfectly imitable.

Frage 49

Frage
It would be costly for competitors to duplicate Bates due to
Antworten
  • path dependence and causal ambiguity.
  • causal ambiguity and unique historical conditions.
  • path dependence and unique historical conditions.
  • causal ambiguity and patents.
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