Buad479-Ch.4

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Strengths that cannot be easily matched or imitated by competitors are called​ what?

*A.Distinctive competencies* B.Valuable resources C.Distinctive advantages D.Competitive advantages E.Synergies

The management function of​ staffing, or human resource​ (HR) management​, includes activities such as the​ following:

A.Recruiting, interviewing,​ testing, selecting, and orienting B.Dismissing employees and managing union relations C.Disciplining, promoting,​ transferring, and demoting D.Training, developing, caring​ for, evaluating, and rewarding *E.All of the above*

What are the five basic functions of​ management?

*A.Planning, organizing,​ motivating, staffing, and controlling* B.Planning, organizing,​ motivating, staffing, and leading C.Planning, organizing,​ leading, motivating, and controlling D.Planning, organizing,​ motivating, strategizing, and controlling E.Planning, organizing,​ motivating, strategizing, and leading

In an IFE​ Matrix, the weights of all factors included must sum to​ ___________.

A.2.0 B.5.0 *C.1.0* D.4.0 E.3.0

By​ 2018, revenues from global data analytics software are expected to reach​ ________ billion, a​ ________ percent increase from 2012. Leading firms providing the software include​ IBM, SAP,​ Oracle, Microsoft, Qlik​ Technologies, Tibco​ Software, and Tableau Software.

A.217; .64 B.217; 640 C.50; 50 *D.$21.7; 64* E.2.17; 6.4

Which​ statement(s) below is​ false?

*A.Firms should strive to understand their own value chain​ operations, not those of their​ competitors, suppliers, and distributors.* B.According to​ Porter, the business of a firm can best be described as a value​ chain, in which total revenues minus total costs of all activities undertaken to develop and market a product or service yields value. C.All firms in a given industry have a similar value​ chain, which includes activities such as obtaining raw​ materials, designing​ products, building manufacturing​ facilities, developing cooperative​ agreements, and providing customer service. D.A firm will be profitable so long as total revenues exceed the total costs incurred in creating and delivering the product or service. E.Conducting a value chain analysis is supportive of the​ research-based view's examination of a​ firm's assets and capabilities as sources of distinctive competence.

Which statement below is​ false?

*A.The average IFE Matrix score is 2.0.* B.In an IFE​ Matrix, the number of factors has no effect on the range of total weighted scores because the weights always sum to 1.0. C.When a key internal factor is both a strength and a​ weakness, the factor may be included twice in the IFE​ Matrix, and a weight and rating assigned to each statement. D.Always sequence factors in an IFE Matrix from highest to lowest weight. E.All statements are true

According to James Van​ Horne, the functions of​ finance/accounting comprise three decisions. What are the​ three?

*A.The investment​ decision, the financing​ decision, and the dividend decision* B.The investment​ decision, the financing​ decision, and the treasury stock decision C.The investment​ decision, the financing​ decision, and the leverage decision D.The investment​ decision, the liquidity​ decision, and the dividend decision E.The liquidity​ decision, the financing​ decision, and the dividend decision

The extent to which a manufacturing​ plant's output reaches its potential output is called​ ________________, a key strategic variable.

*A.capacity utilization* B.min-to-max capacity C.maximum capacity D.capacity maximum E.maximum utilization

Spending on online advertisements globally is increasing about​ _____ percent​ annually, according to​ edMarketer, and represents about​ _____ percent of total advertising spending in the United States.

A.40; 25 *B.25; 39* C.39; 25 D.50; 50 E.25; 40

In an IFE​ Matrix, how much more important is a weight of .016 than a weight of​ .07?

A.5.6 percent B.56 percent C.12.9 percent D.90 percent *E.129 percent*

In performing breakeven​ analysis, which of the following are considered variable​ costs?

A.Advertising expenses B.Labor expenses C.Raw material expenses D.A and B *E.B and C*

In developing an IFE​ Matrix, when can both internal and external factors be​ included?

A.Anytime B.For firms in some​ industries, such as utility companies C.Whenever a firm does not develop or have an EFE Matrix *D.Never* E.Sometimes

In developing an IFE​ Matrix, what is an important​ guideline?

A.Assign higher weights for factors that have higher ratings. B.Never assign a weight of more than 1.0 for a factor. C.Never assign a rating of more than 4.0 for a factor. D.Include at least 20 factors. *E.Include factors that are both actionable and divisional to the extent possible.*

In developing an IFE​ Matrix, do not allow more than 30 percent of the key factors to be financial ratios.​ Why?

A.Because financial ratios can be misleading *B.Since financial ratios are generally the result of many​ factors, it is difficult to know what particular strategies should be considered based on financial ratios.* C.Because financial ratios have limitations such as firms using different accounting methods D.Because financial ratios can vary from industry to industry E.Because finance is only one part of an​ organization's business operations

​________________ is an analytical tool used to determine whether a​ firm's value chain analysis is competitive compared with those of rivals and thus conducive to winning in the marketplace.

A.Breakeven analysis *B.Benchmarking* C.Perceptual mapping D.Competitive Profile Analysis E.Competitive postering

The basic functions of marketing include the following​:

A.Customer​ analysis, selling products and​ services, and product and service planning B.Pricing, distribution, and marketing research C.Cost/benefit analysis D.A and B *E.A, B, and C*

Which statement below is​ false?

A.Dividends are sometimes paid out even if the funds could be better reinvested in the​ business, and/or even if the firm has to obtain outside sources of capital to pay for the dividends. B.Dividends are sometimes paid out even when the firm has incurred a negative annual net income. C.In 2014-2016, companies are aggressively boosting their dividends paid to shareholders. D.The benefits of paying dividends to investors must be balanced against the benefits of internally retaining​ funds, and there is no set formula on how to balance this​ trade-off. *E.All the statements are true.*

​________________ is the process by which a person​ (1) determines whether to attempt a​ task, (2) works out the most effective way of reaching desired​ objectives, and​ (3) prepares to overcome unexpected difficulties with adequate resources.

A.Leading B.Strategizing C.Controlling D.Organizing *E.Planning*

Lorsch found that executives in successful companies are emotionally committed to the​ firm's culture, but he concluded that culture can inhibit strategic management in the following​ way:

A.Managers frequently miss the significance of changing external conditions because they are blinded by strongly held beliefs. B.When a particular culture has been effective in the​ past, the natural response is to stick with it in the​ future, even during times of major strategic change. C.Employees can get so attached to cultural products that they ignore strategies and tactics. *D.A and B* E.A, B, and C

Empirical​ indicators, characteristics of resources that enable a firm to implement​ strategies, include the​ following:

A.Rare and hard to imitate B.Scarce and unique C.Global and liquid D.Not easily substitutable *E.A and D*

A limitation of financial ratio analysis includes the following​ statement:

A.Seasonal factors can influence comparative financial ratios. B.Financial ratios are based on accounting​ data, and firms differ in their treatment of such items as​ depreciation, inventory​ valuation, R&D​ expenditures, pension plan​ costs, mergers, and taxes. C.Financial ratios are not very​ "actionable" in terms of revealing potential strategies needed​ (because they generally are based on performance of the overall​ firm). D.Departures from industry average financial ratios do not always indicate that a firm is doing especially well or badly. *E.All the statements are limitations.*

Which of the following statements is​ false?

A.The​ resource-based view approach to competitive advantage contends that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage. B.In contrast to the Industrial Organization​ (I/O) theory presented in the previous​ chapter, proponents of the RBV​ view/theory contend that organizational performance is primarily determined by internal resources. C.Resource-based view theory asserts that resources are actually what helps a firm exploit opportunities and neutralize threats. As indicated in the Academic Research Capsule​ 4-1, RBV theory may be helpful in identifying diversification targets. D.Empirical research by Neffke reveals that it is the nature of a​ firm's human​ capital, more than any other variable in the​ firm's value​ chain, that impacts that​ firm's choice of diversification targets.​ Specifically, firms select acquisition targets that offer opportunities to leverage existing human resources. *E.A through D are true statements.*

Cultural products include which of the following​ dimensions?

A.Values, beliefs,​ rites, and rituals B.Ceremonies, myths,​ stories, and legends C.Sagas, heroes,​ heroines, and symbols *D.All of the above* E.A and B above

Target recently joined Best Buy in offering to match online prices of rival retailers. Both companies are seeking to combat​ ________ by shoppers who check out products in their stores but buy them on​ rival's websites.

A.price hopping B.price shopping C.price checking *D.showrooming* E.price comparing


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