Assessing The Internal Environmentof The Firm

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Strategic Management: Creating Competitiveadvantages
Analyzing the External Environment Ofthe Firm: Creating Competitive Advantages
Assessing the Internal Environmentof the Firm
Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangibleresources
Business-Level Strategy: Creating Andsustaining Competitive Advantages
Corporate-Level Strategy: Creatingvalue Through Diversification
International Strategy: Creating Valuein Global Markets
Entrepreneurial Strategy and Competitive Dynamics
Strategic Control and Corporategovernance
Creating Effective Organizational Designs
Strategic Leadership: Creating a Learning Organization and an Ethical Organization
Managing Innovation and Fosteringcorporate Entrepreneurship

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Question 1

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One advantage of SWOT analysis is that it helps managers to identify strengths that are almost always sources of competitive advantages that are sustainable.

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Question 2

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The SWOT analysis can show managers how to achieve a competitive advantage.

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Question 3

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The strengths and capabilities of a firm are enough to enable it to achieve a competitive advantage in the marketplace.

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Question 4

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Toyota paid a heavy price for its excessive emphasis on cost control.By focusing on only one strength exclusively,it suffered severe losses.This is an example of the limitations of a SWOT analysis.

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Question 5

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In conducting a SWOT analysis,a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

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Question 6

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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 7

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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 8

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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 9

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The value-chain concept assumes that both primary and support activities are capable of producing value for customers.

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Question 10

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Inbound logistics include all activities associated with transforming inputs into the final product form such as machining,packaging,assembly,equipment,testing,printing,and facility operations.

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Question 11

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

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Question 12

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Establishing a customer service hotline to handle customer complaints would be considered a primary activity in value-chain analysis.

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Question 13

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Technology development is a much broader concept than research and development.

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Question 14

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

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Question 15

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Frito-Lay uses crowdsourcing to make its Super Bowl ads.This is an example of a primary activity in the value chain.

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Question 16

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Campbell Soup uses an electronic network to facilitate its continuous-replenishment program with its most progressive retailers.This is known as an operations primary activity in the value chain.

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Question 17

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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 (such as suppliers and customers).

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Question 18

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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 19

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

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Question 20

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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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