Question 1

Historical comparisons are most appropriate during periods of recession or economic boom.

Accepted Answer

A) True 
 B)False

Question 2

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Accepted Answer

A) True 
 B)False

Question 3

Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.

Accepted Answer

A) True 
 B)False

Question 4

How can a firm develop (or enhance)its advantages in the marketplace by having strong,positive interrelationships among its value chain activities and those of its suppliers and customers? Provide an example.

Accepted Answer

A firm can develop or enhance its advant...

Question 5

Which of the following lists consists of support activities?

Accepted Answer

A)   human resource management, technology development, customer service, and procurement
B)   human resource management, customer service, marketing and sales, and operations
C)   customer service, information systems, technology development, and procurement
D)   human resource management, technology development, procurement, and firm infrastructureE) B) and C)
F) A) and B)

Question 6

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics:

Accepted Answer

A)   psychographic uniqueness, path dependency, causal ambiguity, and substitutability
B)   physical uniqueness, path dependency, causal ambiguity, and social complexity
C)   rarity, path dependency, causal ambiguity, and social substitutability
D)   geographic uniqueness, cause dependency, social ambiguity, and path complexityE) None of the above
F) A) and B)

Question 7

Although general administration is often viewed only as overhead expense,it can become a source of competitive advantage.Examples include all of the following EXCEPT:

Accepted Answer

A)   negotiating and maintaining ongoing relations with regulatory bodies
B)   marketing expertise increasing the revenues of the firm and enabling it to enter new markets
C)   effective information systems contributing significantly to overall cost leadership strategy for the firm
D)   top management providing a key role in collaborating with important customersE) B) and D)
F) All of the above

Question 8

The resource-based view (RBV) of the firm combines two perspectives:

Accepted Answer

A)   the primary and support activities of the firm
B)   the interrelationships among the primary activities of the firm and corporate management
C)   the internal analysis of the firm and the external analysis of the industry and competitive environment
D)   the industry and the competitive environmentE) A) and C)
F) B) and C)

Question 9

The best measure of a company's ability to meet imminent financial obligations is known as the

Accepted Answer

A)   debt ratio
B)   current ratio
C)   total asset turnover
D)   profit marginE) A) and C)
F) C) and D)

Question 10

All of the following are examples of socially complex organizational phenomena EXCEPT:

Accepted Answer

A)   a firm's culture
B)   complex physical technology
C)   interpersonal relations among a firm's managers
D)   leadership and trustE) C) and D)
F) All of the above

Question 11

Value-chain analysis can only be applied to manufacturing operations.

Accepted Answer

A) True 
 B)False

Question 12

Some leading edge companies are applying the prosumer concept.Here,firms team up with their suppliers and alliance partners to satisfy their customer needs.

Accepted Answer

A) True 
 B)False

Question 13

In value-chain analysis,finance and accounting are considered part of the general administration of a firm.

Accepted Answer

A) True 
 B)False

Question 14

Support activities provide support for primary activities,but not each other.

Accepted Answer

A) True 
 B)False

Question 15

For firms such as CarMax,information systems have been a source of competitive advantage.Their proprietary information system captures,analyzes,interprets,and disseminates information about all cars on the CarMax lot.Which of the following can be attributed to this information system?

Accepted Answer

A)   decrease in uncertainties in hard to forecast areas such as inventory management
B)   decrease in operational efficiency
C)   reduced customer service
D)   decrease in salesE) B) and D)
F) A) and D)

Question 16

Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if ___________.

Accepted Answer

A)   suppliers are loyal to the firm
B)   their expertise is firm-specific
C)   the cost to the firm of replacing them is high
D)   the firm's resources are path dependentE) A) and B)
F) A) and C)

Question 17

___________ is/are associated with collecting,storing,and distributing the product or service to buyers.They consist of warehousing,material handling,delivery operation,order processing,and scheduling.

Accepted Answer

A)   Services
B)   Outbound logistics
C)   Inbound logistics
D)   OperationsE) None of the above
F) B) and C)

Question 18

Which of the following would be most difficult to assess?

Accepted Answer

A)   the liquidity position of a firm
B)   market share growth
C)   the legitimacy and reputation of a firm
D)   the efficiency with which a firm utilizes its assetsE) B) and D)
F) None of the above

Question 19

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the _____________.

Accepted Answer

A)   organizational culture and leadership
B)   interrelationships among functional areas and firm strategies
C)   need to maintain the reputation of the company
D)   synergy of the business unitsE) A) and B)
F) B) and C)

Question 20

What are the benefits and limitations of making historical comparisons in analyzing a firm's performance?

Accepted Answer

Historical comparisons can provide valua...

Exam 3: Assessing the Internal Environmentof the Firm

The resource-based view (RBV) of the firm combines two perspectives:

Correct AnswerverifiedShow Answer

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Correct AnswerverifiedShow Answer

What are the benefits and limitations of making historical comparisons in analyzing a firm's performance?

Correct AnswerAnswered by ExamLex AIHistorical comparisons can provide valua...View AnswerShow Answer

In value-chain analysis,finance and accounting are considered part of the general administration of a firm.

Correct AnswerverifiedShow Answer

Historical comparisons are most appropriate during periods of recession or economic boom.

Correct AnswerverifiedShow Answer

Value-chain analysis can only be applied to manufacturing operations.

Correct AnswerverifiedShow Answer

The best measure of a company's ability to meet imminent financial obligations is known as the

Correct AnswerverifiedShow Answer

___________ is/are associated with collecting,storing,and distributing the product or service to buyers.They consist of warehousing,material handling,delivery operation,order processing,and scheduling.

Correct AnswerverifiedShow Answer

Which of the following would be most difficult to assess?

Correct AnswerverifiedShow Answer

Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.

Correct AnswerverifiedShow Answer

Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if ___________.

Correct AnswerverifiedShow Answer

Which of the following lists consists of support activities?

Correct AnswerverifiedShow Answer

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics:

Correct AnswerverifiedShow Answer

Some leading edge companies are applying the prosumer concept.Here,firms team up with their suppliers and alliance partners to satisfy their customer needs.

Correct AnswerverifiedShow Answer

Support activities provide support for primary activities,but not each other.

Correct AnswerverifiedShow Answer

For firms such as CarMax,information systems have been a source of competitive advantage.Their proprietary information system captures,analyzes,interprets,and disseminates information about all cars on the CarMax lot.Which of the following can be attributed to this information system?

Correct AnswerverifiedShow Answer

How can a firm develop (or enhance)its advantages in the marketplace by having strong,positive interrelationships among its value chain activities and those of its suppliers and customers? Provide an example.

Correct AnswerAnswered by ExamLex AIA firm can develop or enhance its advant...View AnswerShow Answer

All of the following are examples of socially complex organizational phenomena EXCEPT:

Correct AnswerverifiedShow Answer

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the _____________.

Correct AnswerverifiedShow Answer

Although general administration is often viewed only as overhead expense,it can become a source of competitive advantage.Examples include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

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Answered by ExamLex AI
Historical comparisons can provide valua...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI
A firm can develop or enhance its advant...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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