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Exam 3: Assessing the Internal Environmentof the Firm

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Question 51

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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?

A) rare
B) valuable
C) easy for competitors to substitute
D) difficult for competitors to imitate

E) A) and C)
F) All of the above

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Question 52

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The balanced scorecard enables managers to consider their business from all of the following perspectives EXCEPT:

A) customer perspective
B) internal perspective
C) innovation and learning perspective
D) ethical perspective

E) All of the above
F) C) and D)

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Question 53

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Which of the following is not a factor that helps to explain the extent to which employees and managers will be able to obtain a proportionately high level of the profits that they generate?

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.

A strength of the balanced scorecard is that it is very easy to implement and that there is little need for executive sponsorship.

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.

What are the key advantages of value-chain analysis over SWOT analysis?

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

Explain how causal ambiguity can provide a sustainable competitive advantage.Illustrate your comments with an example from a real business.

Which of the following is a support activity?

Capabilities that exhibit causal ambiguity are difficult to imitate.

What are some of the key strengths and limitations of SWOT analysis?

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain ____________.

Discuss the competitive advantage of a resource that is difficult to imitate,using an example from a real business that supports your argument.

What are some ways in which a firm's general administration can help create (or enhance)competitive advantages?

A variety of firm resources include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon ____.

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