ch3 - Chapter 3The Internal Organization: Resources,...

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Unformatted text preview: Chapter 3The Internal Organization: Resources, Capabilities, Core Competen- cies, and Competitive Advantages TRUE/FALSE 1. In the global market, employees move freely from firm to firm, so they are not an important source of competitive advantage for the firm. ANS: F PTS: 1 DIF: Medium REF: 70 OBJ: 03-03 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing human capital 2. Firms should seek to continually develop new core competencies because all core competencies have limited life spans. ANS: T PTS: 1 DIF: Easy REF: 70 OBJ: 03-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills 3. The sustainability of a competitive advantage depends upon the imitability of the core competence, the availability of substitutes for the core competence, and the rate of obsolescence of the core compet- ence. ANS: T PTS: 1 DIF: Medium REF: 71 OBJ: 03-01 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills 4. A useful rule for evaluating whether a capability is a core competence is its historical ability to provide sustainable competitive advantage for the firm. ANS: F PTS: 1 DIF: Hard REF: 71 OBJ: 03-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills 5. Analyzing the internal environment enables a firm to determine what it might be able to do by identi- fying what opportunities exist. ANS: F PTS: 1 DIF: Hard REF: 71 OBJ: 03-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills 6. Analyzing the internal environment enables a firm to determine what it can do by identifying what op- portunities exist. ANS: T PTS: 1 DIF: Hard REF: 71 OBJ: 03-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills 7. Given enough time, any firms competitive advantage can be imitated by its competitors. ANS: T PTS: 1 DIF: Easy REF: 71 OBJ: 03-01 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Ru- bin: Strategic & systems skills 8. Some resources, such as financial capital, have inherent value to the firm, while others are not inher- ently valuable. ANS: F PTS: 1 DIF: Hard REF: 71 OBJ: 03-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Ru- bin: Strategic & systems skills 9. In the global economy, traditional factors such as labor costs, access to financial resources and raw materials, and protected or regulated markets are no longer sources of competitive advantage....
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ch3 - Chapter 3The Internal Organization: Resources,...

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