Assessing The Internal Environment Of The Firm

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Question 1
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Value-chain analysis assumes that the basic economic purpose of a firm is to create value, and it is a useful framework for analyzing the strengths and weaknesses of the firm.

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Question 2
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In value-chain analysis, value is measured by the market value of the total stock outstanding of the company.

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Question 3
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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.

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Question 4
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The value-chain concept assumes that both primary and support activities can produce value for customers.

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Managers should focus their attention on interrelationships among value-chain activities within the firm, not on relationships among activities within the firm and other organizations (suchas suppliers and customers).

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Question 6
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Some leading-edge companies are applying the prosumer concept. Here, firms team up with their suppliers and alliance partners to satisfy their customer needs.

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Question 7
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Value-chain analysis can only be applied to manufacturing operations.

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Question 8
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Information technology (IT) can also play a key role in enhancing the value that a company can provide its customers and, in turn, increasing its own revenues and profits. IT is an activitywithin the support activities of general administration.

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Question 9
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Campbell Soup uses electronic networks to improve the efficiency of outbound logistics. This is an example of relationships among activities within the firm and with other stakeholdersthatare part of the company expanded value chain.

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Question 10
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Some firms find great value by not incorporating their customers into the value creation process.

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Question 11
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The resource-based view of the firm focuses solely on the internal analysis of the operations of the firm.

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Question 12
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Tangible resources are assets that are relatively easy to identify such as financial and physical assets.

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Question 13
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Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.

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Question 14
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Financial resources such as cash and cash equivalents are intangible resources.

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Question 15
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Human resources and reputation resources are examples of intangible resources.

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Question 16
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Products and services that are difficult to imitate help firms sustain their profitability.

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Question 17
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Path dependency has no impact on the inimitability of resources.

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Question 18
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Capabilities that exhibit causal ambiguity are difficult to imitate.

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Question 19
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Financial analysis provides an accurate way to assess the relative strengths of firms and can be used as a complete guide to study companies.

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Question 20
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A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction, internal processes, and the innovation and improvement activities of the organization.

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