MGMT 449 Chapter 2
Showing posts with label MGMT 449 Chapter 2. Show all posts
Showing posts with label MGMT 449 Chapter 2. Show all posts

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 ____.

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 ____. 




A. path dependency

B. social complexity

C. physical uniqueness

D. tangible resources


Answer: B

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics:

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics: 




A. psychographic uniqueness, path dependency, causal ambiguity, and substitutability

B. physical uniqueness, path dependency, causal ambiguity, and social complexity

C. rarity, path dependency, causal ambiguity, and social substitutability

D. geographic uniqueness, cause dependency, social ambiguity, and path complexity



Answer: B

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?

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



Answer: C

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

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




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



Answer: B

The three key types of resources that are central to the resource-based view of the firm are:

The three key types of resources that are central to the resource-based view of the firm are: 




A. tangible resources, intangible resources, and organizational structure

B. culture, tangible resources, intangible resources

C. tangible resources, intangible resources, and organizational capabilities

D. tangible resources, intangible resources, and top management



Answer: C

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

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




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


Answer: C

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the _____________.

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the _____________. 




A. organizational culture and leadership

B. interrelationships among functional areas and firm strategies

C. need to maintain the reputation of the company

D. synergy of the business units



Answer: B

For firms such as CarMax, information systems have been a source of competitive advantage. Their proprietary information system captures, analyzes, interprets, and disseminates information about all cars on the CarMax lot. Which of the following can be attributed to this information system?

For firms such as CarMax, information systems have been a source of competitive advantage. Their proprietary information system captures, analyzes, interprets, and disseminates information about all cars on the CarMax lot. Which of the following can be attributed to this information system? 




A. decrease in uncertainties in hard to forecast areas such as inventory management

B. decrease in operational efficiency

C. reduced customer service

D. decrease in sales




Answer: A

Although general administration is often viewed only as overhead expense, it can become a source of competitive advantage. Examples include all of the following EXCEPT:

Although general administration is often viewed only as overhead expense, it can become a source of competitive advantage. Examples include all of the following EXCEPT: 




A. negotiating and maintaining ongoing relations with regulatory bodies

B. marketing expertise increasing the revenues of the firm and enabling it to enter new markets

C. effective information systems contributing significantly to overall cost leadership strategy for the firm

D. top management providing a key role in collaborating with important customers



Answer: B

Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. It supports _______________.

Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. It supports _______________. 



A. only individual primary activities

B. both individual primary and support activities and the entire value chain

C. only individual support activities

D. mostly support activities but does have some impact on primary activities




Answer: B

Which of the following lists consists of support activities?

Which of the following lists consists of support activities? 




A. human resource management, technology development, customer service, and procurement

B. human resource management, customer service, marketing and sales, and operations

C. customer service, information systems, technology development, and procurement

D. human resource management, technology development, procurement, and firm infrastructure





Answer: D
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