d. Horizontal diversification ~~~~~\text{Gasoline purchases} & & 85.00 & 101.70\\ Which of the following is considered an intangible resource? Superiority in competitive advantage refers to all of the following factors EXCEPT: Where does strategy formulation fit within the POLC framework? If not, then it still only provides a temporary competitive advantage. ~~~~~\text{Furniture} & & 125.00 & 125.00\\ Superiority in competitive advantage refers to all of the following factors EXCEPT: B) effective information systems contributing significantly to a firm's overall cost leadership strategy. A companys value derives not from things, but from ____________. A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics. Instead, a resource is strategic to the extent that it is valuable, rare, difficult to imitate, and organized to capture value. d.Knowledge Question 10 For a differentiation strategy to be effective, the product . A useful way to identify a company's resources is to view them as: A. divided into two main categories, tangible and intangible. firms that execute the design blueprints provided by western firms. A) By employing JIT inventory systems, Hewlett Packard has been able to cut lead time from five days to one. \text{Transportation}\\ Which activity is the least risky candidate for outsourcing? c. Product quality A firm's tangible resource includes which of the following? A firm's tangible resource includes which of the following? B) Compare the firm's financial ratios over the most recent one-year period. Design/methodology/approach A cross-sectional survey research design was used in the study. RARE resources are those held by few or no other competitors. Which of the following is not a reason to understand social complexity? The VRIO tool can be used to determine if resources or capabilities are valuable, rare, difficult-to-imitate, and organized to capture value, and thereby understand what type of competitive advantage they offer to a firm. Question 5 a firms tangible resource includes which - Course Hero This makes knowledge an intangible resource. Explore our library and get Management Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely, 2020-2023 Quizplus LLC. In working through the decision tree, once a no is obtained, there is no need to continue through the tree. YouTube. Using Southwest Airlines culture as the resource to evaluate with VRIO: For the company culture resource of Southwest Airlines, a yes can be answered for each of the four steps, providing a sustained competitive advantage for this organization. BUS 1101 Ch. 5 Flashcards | Quizlet Another is guitarist Lenny Haise, whose fun attitude reigns in the enigmatic Mattingly. gifts} & & 20.00 & 11.65\\ (review sheet 4), The tenpoint plan of the new world order-1, Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, The text defines stakeholders as: Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does (Carpenter et. A. T or F Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. C) managers should not look at their job as primarily balancing stakeholder demands; increasing satisfaction among multiple stakeholders can be achieved simultaneously. Southwest Airlines culture fits this standard well. Learn More. Strategy formulation is an essential component of the POLC framework: a. Choose question tag. c. Gobal economic conditions Complete the following statements using either "debit" or "credit": (b) The owner's capital account is increased with a _________. What are the degrees of freedom for A firms strategy includes which of the following? Southwest Airlines Boeing 737 Lonestar One (N352SW) at LAS in November 2005. CC BY 2.0. True B. Straddling strategies as an approach to strategic management is not recommended for which reason: It is an attempt to gain competitive advantage based on overall lowcost provider of a product, Research shows that straddling strategies leads to confusion among managers about the, It is an indication that the firm's managers have not made necessary choices about the, According to Porter straddling strategies is recommended for narrow scope firms that have, The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and. 12 Test Bank - Gould's Ch. & & &\text{Actual}\\ A resource-based view of the firm. Acknowledged by top management Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. Was this amount more or less than the amount they had originally budgeted? True or False Please explain, Artifacts reflecting values of an organization include, The foundation of many capabilities lies in the skills and knowledge of a firm's stockholders A. It depends on the culture and structure of the organization. O - Not all organizations need strategies to survive and thrive. why? Power of stockholders Learn more about how Pressbooks supports open publishing practices. D. T or F c. Strong competitive threats from product substitutes EXPENDITURESFORTHEMONTHOFJULY, ActualAmountAmountExpensesBudgetedSpentFood$160.00$175.70HouseholdElectricbill45.0044.35Telephonebill35.0041.20Heatingfuel50.0015.00Waterbill24.5031.70CableTVbill25.0025.00TransportationGasolinepurchases85.00101.70Parking/tolls15.0015.00PersonalClothing40.0031.75Creditpayments50.0041.74Newspapers. c. Leading These competitive advantages in turn can help the organization enjoy strong profits (Barney, 1991; Wernerfelt, 1981). A) supports only individual primary activities. When analyzing a value chain with a VRIO framework, what is the most important question to begin with? d. Threats posed by new entrants According to value chain analysis, which of the following would be considered part of a firm's infrastructure? D) top management providing a key role in collaborating with important customers. Not surprisingly, this firm ranks among the top twelve in Fortunes Worlds Most Admired Companies for 2020. A firm's tangible resource includes which of the following?a. Coca-Cola, for example, has an uncanny knack for building new brands and products as the soft drink market evolves. Intangible resources include, for example, the knowledge and skills of employees, a firm's reputation, brand name, exclusive rights . A. All of the following are tangible resources EXCEPT:- A. C. physical resources, such as the company's brand, image, and reputation . Low cost A) physical uniqueness, path dependency, causal ambiguity, and social complexity. Tangible resources include all except which of the following? \text{Food} & & \$160.00 & \$175.70\\ b. Hierarchical diversification 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. managers should focus exclusively on the current market environment. Figure 4.2: Planephotoman. 5 Option A Is Southwests culture valuable? T or F the K-W test? ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ B) the cost to the firm of replacing them is high. Which of the following is a support activity? Resources that can be readily seen, touched, and quantified, such as cash or equipment, Resources that are not physical, like a firms reputation, a patent, or employee knowledge, Resources that provide an organization with an opportunity to develop competitive advantages over its rivals. Knowledge \end{array} & &\text{Amount}& \text{Amount}\\ See Page 1. b. This is an example of which concept? there are several forces for organizational change: workplace demographics, technology, globalization, market conditions, growth, and poor performance. C) financial resources, physical resources, and technological resources. _____________ include assets that are deeply rooted in the firms history and have, The firms capacity to deploy resources that have been purposely integrated to achieve a. desired end state are called _____________. One key reason for their success is a legendary organizational culture that inspires employees to do their very best. reading all the available information carefully, prepare a two page (double-spaced) essay and answer the following questions:Assume that we have the following data:C=100+0.50YIp=100-20rMt=0.10YMs=100-10rM=80a. XYZ Corp. is focusing on the objective of low-cost, high quality, on-time production by minimizing idle productive facilities and workers. If so, these resources can provide not only a competitive advantage but also a sustained competitive advantageone that will endure over time and help the firm stay successful far into the future. earn aboveaverage returns includes all of the following EXCEPT. 12.-. It signals the market to competent manufacturing, why it is difficult to identify the actual cause of a firm's successful performance. ~~~~~\text{Dining out} & & 100.00 & 63.80\\[10pt] (1984). These strategic resources can provide the foundation to develop firm capabilities that can lead to superior performance over time. Southwest Airlines, for example, has developed the capability of providing excellent customer service by building on its strong organizational culture. B) intangible resources and operational measures. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. A) KnowledgeB) Capacity for innovationC) Organizational routinesD) Production equipment. Which of the following is a primary activity? Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingin order to create a unique business model in which effectiveness and efficiency is the envy of competitors. Distribution centers. If yes, go to number 2. The key to using the Resource Based View is to evaluate a firms resources and capabilities using the VRIO framework decision tree. Study with Quizlet and memorize flashcards containing terms like A firm's tangible resource includes which of the following?, A firm's strategy includes which of the following:, T or F: Not all organizations need strategies to survive and thrive. The tangibility of a firms resources is an important consideration within resource-based theory. In value chain analysis, the activities of an organization are divided into two major categories of value activities: primary and support. Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? The resource-based view (RBV) of the firm combines two perspectives: A) the primary and support activities of the firm. d. Relatively moderate rivalry Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. Explanation: Tangible resources have a physical form, t, 5. A resource that is valuable and rare but that can be imitated, for example, might provide an edge in the short term, but competitors can eventually overcome such an advantage. Tangible resources are resources that can be readily seen, touched, and quantified. How should managers assess changes in their firm's competitive position in their industries during a period of unusual economic growth? A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. A firms tangible resource includes which of the following Selected ~~~~~\text{Heating fuel} & & 50.00 & 15.00\\ Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. It does not help or hurt Southwest competitively. Resources can be divided into two main types: tangible and intangible. turning over an organizational activity to an outside supplier. D. T or F The particular bundles of resources and capabilities that provide unique advantages to the, Core competencies are resources and capabilities that serve as a source of a firms. When a company's resources are valuable but not rare, the company is said to have which element? Resources such as Southwests culture that reflect all four qualitiesvaluable, rare, difficult to imitate, and organized to capture valueare ideal because they can create sustained competitive advantages. Supply of replacement parts is a _________activity. Quiz 4 Flashcards | Quizlet ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ Firms often bundle together multiple resources and strategies (that may not be unique in and of themselves) to create uniquely powerful combinations. A firms tangible resource includes which of the following a - Studocu Use the Kujawas expense summary to answer the question. Course Hero is not sponsored or endorsed by any college or university. Please analyze the behavior of the markets for goods and money for each area.Cite references to material that you use in preparing the essay. A firm's tangible resource includes which of the following? How has Walgreens used its core competencies to provide value to its customers? What was the Kujawas total expenditure for the month of July? Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors. Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. Specifically, it is important to recognize that strategic resources can be created by taking several strategies and resources that each could be copied and bundling them together in a way that cannot be copied. ~~~~~\text{Telephone bill} & & 35.00 & 41.20\\ Capacity for innovation c. Organizational routines d. Production equipment. B) the key emphasis on customer satisfaction and financial goals are only a means to that end. ~~~~~\text{Electric bill} & & 45.00 & 44.35\\ ~~~~~\text{Car registration} & &4.33 & 0\\ B) supports only individual support activities. For firms such as Walgreen Co. (a chain of drugstores), information systems have been a source of competitive advantage by enabling them to. B, a. 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) human resource management, information systems, procurement, and firm infrastructure, D) customer service, information systems, technology development, and procurement, Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. This culture is also rare in that strikes, layoffs, and poor morale are common within the airline industry. 6/28/2017 Chapter 5 Quiz: MAN3025 RVEB 1175 4 / 4 ptsQuestion 6 In the value chain, which of the following activities is deemed to add direct value to a firm? The purpose of this paper is to investigate the relative contribution of tangible resource (TR) and intangible resource (IR), and capabilities on firm performance based on the measures of market share, sales turnover and profitability. D) the firm's resources are path dependent. The balanced scorecard provides top managers with a _____________ view of the business, The balanced scorecard developed by Kaplan and Norton helps to integrate. O - Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to aparticular market niche Every organization has stakeholders. If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will accounting. The balanced scorecard enables managers to consider their business from all of the following perspectives except. : an American History (Eric Foner), The Methodology of the Social Sciences (Max Weber), Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham).
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