Chapter 3 Strategic Management

XYZ Corp. is centering on the objective of low-cost, high quality, on-time production by curtailing idle productive facilities and workers. The XYZ Corp. is taking advantage of a ____________ system

Just-In-Time (JIT)

Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis?

SWOT's focus on the external environment is too broad and integrative

The "balanced scorecard" supplies top managers with a _____________ view of the business.

fast but comprehensive

Which of the following lists is comprised of support activities:

human resource management, information systems, procurement, and firm infrastructure

A marketing department that promises delivery quicker than the production department's ability to produce is an example of a lack of understanding of the

interrelationships among functional areas and firm strategies

A company's ability to meet its short-term financial obligations is measured by which of the following categories?

liquidity ratios

Although firm infrastructure is quite frequently viewed only as overhead expense, it can become a source of competitive advantage. Examples include all of the following except:

marketing expertise increasing a firm's revenues and enabling it to enter new markets.

The competencies or skills that a firm employs to transform inputs into outputs are:

organizational capabilities.

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

social complexity.