Question 1

In considering the business from the internal business perspective using the balanced scorecard,periodic financial statements are used to indicate the consequences of improved quality,response time,productivity,and innovative products.These consequences include improved sales.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is not a limitation of SWOT (Strengths,Weaknesses,Opportunities,and Threats) analysis?

Accepted Answer

A)   Organizational strengths may not lead to competitive advantage.
B)   The SWOT focus on the external environment is too broad and integrative.
C)   SWOT gives a one-shot view of a moving target.
D)   SWOT overemphasizes a single dimension of strategy.E) None of the above
F) All of the above

Question 3

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

Accepted Answer

A)   tangible resources.
B)   intangible resources.
C)   organizational capabilities.
D)   strong primary activities.E) C) and D)
F) A) and B)

Question 4

The financial perspective of the balanced scorecard answers which of the following questions?

Accepted Answer

A)   How do customers see us?
B)   What must we excel at?
C)   How do we look to shareholders?
D)   Can we continue to improve and create value?E) A) and B)
F) A) and C)

Question 5

Some firms find great value by not incorporating their customers into the value creation process.

Accepted Answer

A) True 
 B)False

Question 6

For the balanced scorecard to work,managers must articulate goals for five categories of customer concerns: time,quality,performance and service,cost,and design.

Accepted Answer

A) True 
 B)False

Question 7

In the resource-based view of the firm,examples of tangible resources include

Accepted Answer

A)   financial resources, human resources, and firm competencies.
B)   financial resources, physical resources, and technological resources.
C)   financial resources, physical resources, and the capacity to combine intangible resources.
D)   outstanding customer service, innovativeness of products, and reputation.E) All of the above
F) None of the above

Question 8

When using industry norms as a standard of comparison,managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

Accepted Answer

A) True 
 B)False

Question 9

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

Accepted Answer

A)   Google
B)   Kmart
C)   Costco
D)   WalmartE) A) and C)
F) A) and B)

Question 10

Comcast gets a bad review on Yelp.This is an example of harm to a tangible resource.

Accepted Answer

A) True 
 B)False

Question 11

For an engineering services firm,________________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

Accepted Answer

A)   experimentation
B)   customer support
C)   research and development
D)   human resource managementE) B) and C)
F) A) and C)

Question 12

The resource-based view (RBV) of the firm combines the following 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 environment.E) A) and B)
F) All of the above

Question 13

Raymond Ozzie,the software designer who was critical in the development of Lotus Notes,was able to dictate the terms under which IBM acquired Lotus.This illustrates that he had ______ bargaining power based on the ________ cost required by the firm to replace him.

Accepted Answer

A)   low; low
B)   low; high
C)   high; low
D)   high; highE) A) and D)
F) A) and B)

Question 14

The balanced scorecard provides top managers with a __________ view of the business.

Accepted Answer

A)   detailed and complex
B)   simple and routine
C)   fast but comprehensive
D)   long-term financialE) B) and C)
F) A) and D)

Question 15

The SWOT framework is sufficient as the primary basis for evaluating the external opportunities and threat of the company.

Accepted Answer

A) True 
 B)False

Question 16

Amazon Prime is credited for helping to increase the Amazon stock price by nearly 300 percent from 2008 to 2010.This competitive advantage is known as

Accepted Answer

A)   causal ambiguity.
B)   product rarity.
C)   service validity.
D)   substitutability.E) A) and B)
F) B) and D)

Question 17

Amazon Prime is an example of a difficult to imitate capability that gives it competitive advantage over its rivals.

Accepted Answer

A) True 
 B)False

Question 18

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

Accepted Answer

A)   rare
B)   valuable
C)   easy for competitors to substitute
D)   difficult for competitors to imitateE) None of the above
F) All of the above

Question 19

Two valuable firm resources (or two bundles of resources)are strategically equivalent when each one can be exploited separately to implement the same strategies.

Accepted Answer

A) True 
 B)False

Question 20

Primary activities contribute to the physical creation of a product or service,its sale and transfer to the buyer,and its service after the sale.

Accepted Answer

A) True 
 B)False

Exam 3: Assessing the Internal Environment of the Firm

Amazon Prime is credited for helping to increase the Amazon stock price by nearly 300 percent from 2008 to 2010.This competitive advantage is known as

Correct AnswerverifiedShow Answer

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

Correct AnswerverifiedShow Answer

In the resource-based view of the firm,examples of tangible resources include

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The balanced scorecard provides top managers with a __________ view of the business.

Correct AnswerverifiedShow Answer

In considering the business from the internal business perspective using the balanced scorecard,periodic financial statements are used to indicate the consequences of improved quality,response time,productivity,and innovative products.These consequences include improved sales.

Correct AnswerverifiedShow Answer

Some firms find great value by not incorporating their customers into the value creation process.

Correct AnswerverifiedShow Answer

Which of the following is not a limitation of SWOT (Strengths,Weaknesses,Opportunities,and Threats) analysis?

Correct AnswerverifiedShow Answer

For an engineering services firm,________________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

Correct AnswerverifiedShow Answer

For the balanced scorecard to work,managers must articulate goals for five categories of customer concerns: time,quality,performance and service,cost,and design.

Correct AnswerverifiedShow Answer

The financial perspective of the balanced scorecard answers which of the following questions?

Correct AnswerverifiedShow Answer

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

Correct AnswerverifiedShow Answer

Two valuable firm resources (or two bundles of resources)are strategically equivalent when each one can be exploited separately to implement the same strategies.

Correct AnswerverifiedShow Answer

The SWOT framework is sufficient as the primary basis for evaluating the external opportunities and threat of the company.

Correct AnswerverifiedShow Answer

Amazon Prime is an example of a difficult to imitate capability that gives it competitive advantage over its rivals.

Correct AnswerverifiedShow Answer

Primary activities contribute to the physical creation of a product or service,its sale and transfer to the buyer,and its service after the sale.

Correct AnswerverifiedShow Answer

When using industry norms as a standard of comparison,managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

Correct AnswerverifiedShow Answer

Raymond Ozzie,the software designer who was critical in the development of Lotus Notes,was able to dictate the terms under which IBM acquired Lotus.This illustrates that he had ______ bargaining power based on the ________ cost required by the firm to replace him.

Correct AnswerverifiedShow Answer

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

Correct AnswerverifiedShow Answer

Comcast gets a bad review on Yelp.This is an example of harm to a tangible resource.

Correct AnswerverifiedShow Answer

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Raymond Ozzie,the software designer who was critical in the development of Lotus Notes,was able to dictate the terms under which IBM acquired Lotus.This illustrates that he had bargaining power based on the __ cost required by the firm to replace him.

Correct Answer
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