Bus401 s07 sena quiz2 - /0 ‘O/lo Bus 401 Quiz 2 Student c...

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Unformatted text preview: / /0 ‘O/lo Bus 401 Quiz 2 Student: \. c This test is open book, open notes. Please submit your test answers directly to your instructor at the beginning of the next ‘class. Please do NOT submit them in electronic form -- either via the digital drop box in blackboard or by email. Chapter 3 Multiple Choice Questions 1. Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? [p787 /A Organizational strengths may not lead to competitive advantage. SWOT’s focus on the external environment is too broad and integrative. \' ) SWOT gives a one-shot View of a moving target. 1/ D) SWOT overemphasizes a single dimension of strategy. 2. Although firm infrastructure is often viewed only as overhead expense, it can become a source of competitive advantage. Examples include all of the following cept: ® negotiating and maintaining ongoing relations with regulatory bodies. effective information systems contributing significantly to a firm's overall cost leadership strategy. Q marketing expertise increasing a firm's revenues and enabling it to enter new markets. ' D) top management providing a key role in collaborating with important customers. 3. The resource-based View (RBV) of the firm combines two perspectives: 03.40) A) the primary and support activities of the firm. B) the interrelationships among the primary activities of the firm and corporate management. - the internal analysis of the firm as well as the external analysis of the industry ‘ and competitive environment. D) the industry and the competitive environment. 4. Examples of tangible resources (in the resource-based view of the firm) include: (p.612) A) financial resources, human resources, and firm competencies. B) financial resources, physical resources, and the capacity to combine intangible resources. Q financial resources, physical resources, and technological resources. outstanding customer service, innovativeness of products, and reputation. Bus 401 Quiz 2 Page 1 5. are the competencies or skills that a firm employs to transform inputs into outputs. {945) A) Tangible resources B) Intangible resources C Reputational resources Organizational capabilities rm with the potential for a sustainable competitive 6. For a resource to provide a fi advantage, it must have four attributes. Which of the following is not one of these attributes? W .419 t A rare. , easy for competitors to substitute. v valuable. JD) difficult for competitors to imitate. by one firm cannot replicate a successful technology 7. A crash R&D program rm when research findings cumulate. This is an example developed by another fi of WWO) A) social complexity. @ path dependency. physical uniqueness. D) causal ambiguity. 8. A resource is valuable and rare but neither difficult to imitate nor without substitutes. This should enable the firm to attainkfflfi) A) no competitive advantage. ' B) competitive parity. a temporary competitive advantage. D) a sustainable competitive advantage. 9. Which of the following would be most difficult to assess? (elm) A) the liquidity position of a firm. the legitimacy and reputation of a firm. ) market share growth. D) the efficiency with which a firm utilizes its assets. 10. Historical comparisons provide information to managers about changes in a firm‘s competitive position. Historical comparisons are ofien misleading ( “m A if the overall strategy of the firm is the same. ' Q —- B in periods of recession or economic boom. C) if the firm shows constant growth. D) if the firm‘s stock is publicly traded. 1 1. How should managers assess changes in their firm's competitive posuion in their industries during a period of unusual economic growth? A) Compare the firm‘s fin rms in other strategic ancial ratios with ratios of f1 groups in the industry. . recent one-year period. B) Compare the firm's financial ratios over the most try——some of C) Compare the financial ratios of all firms in the country's indus . diverse market segments and have specialized accordlngly. whom serve very . 9Compare the financial ratios of firms in the company's strategic group. True/False Questions 12. One advantage of SWOT analysis is that it helps managers to identify strengths that are t always sources of competitive advantages that are sustainable. : 97g True r False 13. Value chain analysis assumes that a firm's basic economic purpose is to create value and it is a useful framework for analyzing a firm‘s s’tflr‘efl‘ngthsand w messes. True ré) \r_“ H 14. Primary activities co sale and transfer to th @1’ False 15 The value chain concept assumes that b capable of producing value for customers. @r False ntribute to the physical creation of a product or service, its e buyer, and its service after the sale. (9. 7q—gp) 0th primary and support activities are with transforming inputs into the 16. Inbound logistics include all activities associated equipment, testing, final product form such as machining, packaging, assembly, printing, and facility operations. ‘7 .go [email protected] 17. Information systems can create advantages that deter entry by 0 industry. True VofiFalse ompetitors into an 18. Managers should focus their attention on interrelationships among value chain act1v1t1es within the firm-mot on relationships among activities within the firm and other organizations (such as suppliers and customers). (10' 87) True 0W Bus 401 Quiz 2 Page 3 19. The resource-based view of the firm focuses on the internal analysis of a finn's operation (1 competencies. C(40) True or @ 20. Products and services that are difficult to imitate help firms sustain their p .fitability\( .45) or False 21. Path depe : - cy has no impact on the inimitability of resources. True or '@ l i my) 22. Establishing a customer service hotline to handle customer complaints would be c idered a primary activity in value chain analysis. [ Q 6],) Q; or False 23. Technology development is a much broader concept than research and d elopment. . 6% or False QW 24. For a resource to provide a firm with potential sustainable advantages it must satisfy oi two criteria: rareness and difficulty in substitution. True [email protected]‘ CF41) 25. Financial analysis provides an accurate way to assess the relative strengths of firms an . . be used as a complete guide to study companies. True or @- (‘vqcn Bus 401 Quiz 2 , Page 4 ...
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