SEVI 3013 Exam 1

Banks and airlines are examples of two industries that track competitor offers continually. This is called the process of gathering... A. competitive intelligence B. consumer responses C. mainline information D. past decisions

A. competitive intelligence

Which of the following is NOT one of the criteria needed for a resource to confer sustainable competitive advantage? A. dynamic B. rare C. inimitable D. valuable

A. dynamic

_____ tracks the evolution of environmental trends, sequences of events, or streams of activities. A. environmental monitoring B. environmental surveying C. competitive intelligence D. environmental scanning

A. environmental monitoring

All of the following are important elements of the political and legal segment of the general environment except.... A. in increased use of internet technology B. the deregulation of utilities C. the Americans with Disabilities Act (ADA) D. increases in the federally mandated minimum wage

A. in increased use of internet technology

_____ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. A. strategy B. behavior modification C. competency management D. credo

A. strategy

Which of the following is NOT a primary activity? A. technology development B. inbound logistics C. customer service D. operations

A. technology development

Which of the following explains how the culture of a firm may be a resource that provides competitive advantage? A. It can be easily documented and communicated B. It is difficult to imitate because it is difficult to explain how it arises and is transmitted C. Competitors can see a firm's culture and implement the same thing, making society better off D. There are lots of different cultural approaches that can create value

B. It is difficult to imitate because it is difficult to explain how it arises and is transmitted

All of the following are external stakeholders except... A. alliance partners B. competitors C. creditors D. customers

B. competitors

The aging of the population, changes in ethnic composition, and effects of the millennial generation are _____ changes. A. sociocultural B. demographic C. global D. macroeconomic

B. demographic

Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments? A. strategy control B. strategy analysis C. strategy implementation D. strategy formulation

B. strategy analysis

In the SWOT framework, _____ are the internal factors that are specific to the company. A. threats and weaknesses B. strengths and weaknesses C. strengths and opportunities D. strengths and threats

B. strengths and weaknesses

Contracting with suppliers is a _____ activity. Handling returns is a _____ activity. A. support; secondary B. support; primary C. primary; support D. primary; primary

B. support; primary

Which of the following is not an example of corporate competitive intelligence? A. banks tracking home loans B. airlines changing hundreds of fares daily in response to competitor tactics C. consumers comparing product offers online D. car manufacturers offering sales incentives based on rival offers

C. consumers comparing product offers online

Airbus launched the A380 in 2007 and after more than 17 billion USD invested in the project, it announced in 2019 that it would discontinue the A380 production by 2021 because it had sold fewer than half the A380s it expected to deliver. This is an example of poor... A. vision statement evaluation B. assessing internal strengths C. environmental scanning D. mission statement evaluation

C. environmental scanning

In assessing its primary activities, an airline would examine... A. criteria for lease versus purchase decisions B. employee retention C. flight boarding processes D. the effectiveness of incentives

C. flight boarding processes

Which of the following would be considered part of the general environment of a firm? A. increased bargaining power of the firm's suppliers B. decreased entry barriers C. higher unemployment rates D. increased competitive rivalry

C. higher unemployment rates

The first step in stakeholder impact analysis involves... A. formulating a stakeholder strategy to balance the different needs of various stakeholders B. identifying the opportunities and threats the stakeholders present C. identifying the stakeholders that currently have, or potentially can have, a material effect on the company D. describing the economic, legal, ethical, and philanthropic responsibilities of the firm toward society

C. identifying the stakeholders that currently have, or potentially can have, a material effect on the company

Operations include which of the following activities? A. hiring and training B. promotion and pricing C. machining and packaging D. warehousing and inventory control

C. machining and packaging

The ability to hire, motivate, and retain human capital is an example of ________ capabilities in the resource-based view of the firm. A. tangible B. design C. organizational D. management

C. organizational

Which of the following is not an input process to develop forecasts? A. environmental monitoring B. competitor intelligence C. stakeholder management D. environmental scanning

C. stakeholder management

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. mostly support activities but does have some impact on primary activities C. only individual support activities D. both individual primary and support activities and the entire value chain

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

In the resource-based view of the firm, examples of intangible resources include... A. financial resources, physical resources, and the capacity to combine intangible resources B. financial resources, human resources, and firm competencies C. financial resources, physical resources, and technological development D. brand image, innovative approach, and reputation

D. brand image, innovative approach, and reputation

A firm achieves superior performance relative to other firms in the same industry or the industry average has a(n)... A. power position B. equity leverage C. balanced scorecard D. competitive advantage

D. competitive advantage

Underperformance relative to other firms in the same industry or the industry average results in a(n) _____ for a firm. A. sustainable competitive advantage B. increased power distance C. diseconomies of scope D. competitive disadvantage

D. competitive disadvantage

General administration is sometimes viewed as only _____, but it can be a powerful source of competitive advantage. A. value B. unimportant C. income D. overhead

D. overhead

If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally... A. execute an integrated cost-leadership and differentiation position. B. copy the strategies of other firms through competitive benchmarking. C. provide goods or services similar to its competitors at higher prices. D. stake out a unique position within the industry.

D. stake out a unique position within the industry

Emerging sociocultural changes in the environment include... A. progressively less disposable income by consumers B. changes in the ethnic composition C. changes in the geographic distribution of the population D. the increasing educational attainment of women in the past decade

D. the increasing educational attainment of women in the past decade