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Commerce and BusinessbackBusinessbackStrategic ManagementbackStrategic ManagementbackPractice Set 2476back

Internal Analysis: Resources,capabilities,and Core Competencies

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Question 1
Free
Multiple Choice

Beats Electronics has been able to outperform Audio-Technica,Bose,JBL,Skullcandy,Sennheiser,and Sony in the high-end,premium headphone market.Which of the following statements accurately explains one of the main reasons for the success of Beat?

Choose correct answer/s
A

It produced the highest-quality headphones.

B

It created a perception that owning its products was cool.

C

It emphasized marketing over core competency.

D

It focused on sponsoring future athletic superstars.

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Question 2
Free
Multiple Choice

_____ are best described as unique strengths,embedded deep within a firm,that allow a firm to differentiate its products and services from those of its rivals,creating higher value for the customer or offering products and services of comparable value at lower cost.

Choose correct answer/s
A

Resource leverages

B

Core competencies

C

Capital gains

D

Equity reserves

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Question 3
Free
Multiple Choice

Dandelions Max is a consumer electronics company.It has acquired an edge over its competitors through its ability to provide breakthrough technology at the lowest price in the market.This advantage of Dandelions Max best exemplifies a

Choose correct answer/s
A

markup.

B

resource flow.

C

capital gain.

D

core competency.

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Question 4
Free
Multiple Choice

Organizational and managerial skills that find their expression in a company's structure,routines,and culture are referred to as

Choose correct answer/s
A

tangible resources.

B

reserves.

C

capital gains.

D

capabilities.

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Question 5
Free
Multiple Choice

Amazon.com's ability to provide the largest selection of items online,combined with superior IT systems and customer service,can be referred to as its

Choose correct answer/s
A

equity reserve.

B

economic equity.

C

core competency.

D

capital gain.

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Question 6
Multiple Choice

Which of the following is an example of a firm's resources?

Choose correct answer/s
A
routine activities like order taking and invoicing customers, performed in a firm
B
assistance available from the government in the form of rules and regulations
C
assets such as land and buildings owned by a firm
D
liabilities such as bills payables and short-term debts
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Question 7
Multiple Choice

The management of a company is assessing the value of all the tangible resources the company owns.Which of the following will be included in this assessment?

Choose correct answer/s
A
the company's copyrights
B
the company's brand equity
C
the company's patents
D
the company's machinery
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Question 8
Multiple Choice

Which of the following is an example of a firm's intangible resources?

Choose correct answer/s
A
the firm's cash at bank
B
the firm's finished goods inventory
C
the firm's organizational culture
D
the firm's land and building
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Question 9
Multiple Choice

Smooth Fusion Inc.is a software company,which has built and acquired numerous assets over the years.According to the resource-based view of a firm,which of the following assets of Smooth Fusion Inc.will best enable it to gain and sustain a competitive advantage?

Choose correct answer/s
A
the resources of the company that are mobile
B
the capital raised by the company from its shareholders
C
the expertise acquired by the employees in the company
D
the headquarters owned by the company
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Question 10
Multiple Choice

Which of the following statements accurately brings out the difference between tangible and intangible resources?

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A
Tangible resources contribute to a company's competitive advantage, whereas intangible resources fail to do the same.
B
Tangible assets can be bought on the open market, whereas intangible assets cannot be easily purchased.
C
Tangible resources take a longer time to build, whereas intangible assets can be built comparatively easily.
D
Tangible assets are difficult to imitate, whereas intangible assets can be easily replicated.
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Question 11
Multiple Choice

GN Corp.and BC Inc.are two competing firms in the same industry.GN Corp.'s tangible assets are valued at $15 billion and its intangible assets are valued at $35 billion.BC Inc.'s tangible assets are valued at $5 billion and its intangible assets are valued at $45 billion.What can be concluded from this information?

Choose correct answer/s
A
It is easier to buy intangible assets with cash than tangible assets.
B
It is likely that BC Inc. is better enabled than GN Corp. to gain and sustain a competitive advantage.
C
It takes longer time to build tangible assets than intangible assets.
D
There is no resource heterogeneity between the two firms, BC Inc. and GN Corp., as they operate in the same industry.
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Question 12
Multiple Choice

Coral Think Inc.is a new company in the publishing industry.It has raised sufficient capital from multiple sources.It is planning to use its capital to purchase certain assets.Which of the following assets will be the most difficult for Coral Think Inc.to acquire using its capital?

Choose correct answer/s
A
inventory
B
tools and equipment
C
land and building
D
brand name
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Question 13
Multiple Choice

Intangible assets add great value to a firm primarily because the firm's

Choose correct answer/s
A
reputation and brand equity are accumulated quickly and can be leveraged easily.
B
knowledge and culture take time to develop and are generally difficult to imitate.
C
tangible assets require a higher degree of capital than its intangible assets.
D
capabilities are by nature typically tangible.
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Question 14
Multiple Choice

Home Value Inc.,Max Cart Inc.,and Nice Necessities Inc.are three consumer-product retailing companies.Their products consist primarily of day-to-day items that are easy to imitate and sell.All three companies use the same resources and capabilities in the production and distribution of their products.Which of the following is an implication of the market condition indicated in this scenario?

Choose correct answer/s
A
Resource immobility of the firms will be low.
B
The industry structure will be far from perfect competition.
C
Barriers to entry within the industry will be high.
D
Any advantage that one firm has will be short-lived.
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Question 15
Multiple Choice

The resource-based view of a firm assumes that the

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A
resources of firms are highly scarce and hence the government interferes to ensure equal distribution.
B
resources of firms are highly exhaustible and hence they cannot contribute to their competitive advantage.
C
resource bundles of firms competing in the same industry are unique to some extent and thus differ from one another.
D
resource bundles of firms competing in the same industry tend to be highly mobile, moving easily from firm to firm.
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Question 16
Multiple Choice

Although True Ion Inc.and One Electro Inc.operate in the same consumer electronic industry,True Ion Inc.has better sales and brand equity.This is attributed to True Ion Inc.'s commitment to innovation.The company has adequate financial and human capital to invest in research and development,an area in which One Electro Inc.lacks.In this scenario,which of the following critical assumptions of the resource-based view of a firm has been illustrated?

Choose correct answer/s
A
resource equality
B
resource heterogeneity
C
resource mobility
D
resource maturity
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Question 17
Multiple Choice

As a result of _____ ,a critical assumption in the resource-based model of a firm,the resource differences that exist between firms are difficult to replicate.

Choose correct answer/s
A
resource immobility
B
resource homogeneity
C
resource perishability
D
resource equality
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Question 18
Multiple Choice

Kaleidoscope Inc.is a leading international apparel company.Competitors across the globe have failed to imitate Kaleidoscope Inc.'s production models,supply chain systems,knowledge systems,and culture.These attributes have remained unique to Kaleidoscope Inc.for a long time.Which of the following assumptions of the resource-based model of competitive advantage does this scenario best illustrate?

Choose correct answer/s
A
resource homogeneity
B
resource perishability
C
resource equality
D
resource immobility
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Question 19
Multiple Choice

In the context of the resource-based model of competitive advantage,if a successful firm exhibits resource immobility it means that the

Choose correct answer/s
A
rival firms have better accessibility to quality resources.
B
firm will have a sustained competitive advantage because of its unique resources.
C
competitors can easily replicate or copy the firm's resource bundles and capabilities.
D
resources of the firm cannot be effectively deployed within its own organization.
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Question 20
Multiple Choice

Due to resource immobility,a critical assumption in the resource-based model of a firm,the

Choose correct answer/s
A
competitive advantage of a firm exists for a short period of time.
B
resource bundles of a firm can be easily imitated by competitors.
C
resource differences between firms last for a long time.
D
competencies and capabilities of all firms in an industry are similar.
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