quiz 6

d. Bundles of resources

Generally speaking, which of the following is most likely to lead to a sustainable competitive advantage with respect to the resource-based view? a. Support activities b. Primary activities c. Individual resources d. Bundles of resources

b. Pursue temporary competitive advantages back-to-back so that you always have an advantage, but from new resources/capabilities

In fast-moving environments, what does current research suggest as a valuable alternative to pursuing sustainable competitive advantages? a. Continue to pursue sustainable competitive advantages b. Pursue temporary competitive advantages back-to-back so that you always have an advantage, but from new resources/capabilities c. Pursue valuable resources, but do not worry about rarity, imitability, or substitutability d. Do not worry about competitive advantage; these environments are so difficult to predict that executives' time is wasted on the notion

c. It makes the resource more difficult to imitate

What is the impact of intellectual property protection with respect to the resource-based view framework? a. It makes the resource more valuable b. It makes the resource more rare c. It makes the resource more difficult to imitate d. It makes the resource more difficult to substitute

d. Amount of resources available in the organization's environment.

Which of the following IS an external factor organizations must consider? a. An organizational patent or trademark. b. Capabilities of the organization's current employees. c. Size of the organization. d. Amount of resources available in the organization's environment.

a. A collection of resources that are characterized as being valuable, rare, inimitable, and non-substitutable to create a competitive advantage

Which of the following best characterizes how the resource-based view sees a company? a. A collection of resources that are characterized as being valuable, rare, inimitable, and non-substitutable to create a competitive advantage b. A collection of activities that identify where the firm creates customer value (or conspicuously fails to do so) c. A collection of contracts between the firm and various stakeholders identifying who plays what role in the creation of the firms' products and services d. A collection of employees who work together on a team to examine their influence in the organization

b. A firm's ability to update their capabilities to fit a changing environment

Which of the following best describes a dynamic capability? (Read all answer choices carefully before answering) a. A firm's ability to combine resources to turn inputs into outputs b. A firm's ability to update their capabilities to fit a changing environment c. A firm's ability to explode into new markets quickly d. A firm's ability to use their resources to create a sustained competitive advantage

c. TOWS Matrix

Which of the following describes a mechanism for turning results from strategic analyses into potential new strategies? a. Porter's Matrix b. RACI Matrix c. TOWS Matrix d. VRIO Matrix

c. SWOT Analysis

Which of the following frameworks would you use to consolidate insights from both external and internal analyses? a. Porter's Five Forces b. Resource Based View c. SWOT Analysis d. Porter's Diamond

b. Resource Based View

Which of the following frameworks would you use to identify whether a firm has a sustained competitive advantage? a. Porter's Five Forces b. Resource Based View c. SWOT Analysis d. Porter's Diamond

d. S-W Strategy

Which of the following is not a TOWS strategy? a. S-O Strategy b. W-T Strategy c. S-T Strategy d. S-W Strategy

b. W-T Strategy

Which of the following strategies is a TOWS strategy, but is generally considered to be the weakest/hardest to justify? a. S-O Strategy b. W-T Strategy c. S-T Strategy d. S-W Strategy

b. Trademark

Which of the following would you use to provide intellectual property protection for a logo designating your company's brand? a. Patent b. Trademark c. Copyright

a. Patent

Which of the following would you use to provide intellectual property protection for a novel manufacturing process? a. Patent b. Trademark c. Copyright

c. Copyright

Which of the following would you use to provide intellectual property protection for an industry analysis you have written? a. Patent b. Trademark c. Copyright

b. Weakness

Your firm is quite bad at post-sales support activities. According to SWOT, this would be characterized as a(n): a. Strength b. Weakness c. Opportunity d. Threat

b. It would lead to competitive parity

You have a resource that IS valuable, difficult to imitate, and non-substitutable, but is NOT rare. What would the resource-based view say about this resource's ability to create a competitive advantage? a. It would lead to a competitive disadvantage b. It would lead to competitive parity c. It would lead to a temporary competitive advantage d. It would lead to a sustained competitive advantage

c. It would lead to a temporary competitive advantage

You have a resource that IS valuable, rare, and difficult to imitate, but is also EASILY substituted for. What would the resource-based view say about this resource's ability to create a competitive advantage? a. It would lead to a competitive disadvantage b. It would lead to competitive parity c. It would lead to a temporary competitive advantage d. It would lead to a sustained competitive advantage

a. It would lead to a competitive disadvantage

You have a resource that is NOT valuable, IS rare, IS difficult to imitate, and non-substitutable. What would the resource-based view say about this resource's ability to create a competitive advantage? a. It would lead to a competitive disadvantage b. It would lead to competitive parity c. It would lead to a temporary competitive advantage d. It would lead to a sustained competitive advantage

a. It would lead to a competitive disadvantage

You have a resource that is valuable, rare, difficult to imitate and non-substitutable. You also know that the firm is NOT organized to exploit this resource. What would the resource-based view say about this resource's ability to create a competitive advantage? a. It would lead to a competitive disadvantage b. It would lead to competitive parity c. It would lead to a temporary competitive advantage d. It would lead to a sustained competitive advantage

d. It would lead to a sustained competitive advantage

You have a resource that is valuable, rare, difficult to imitate and non-substitutable. You also know that the firm is organized to exploit this resource. What would the resource-based view say about this resource's ability to create a competitive advantage? a. It would lead to a competitive disadvantage b. It would lead to competitive parity c. It would lead to a temporary competitive advantage d. It would lead to a sustained competitive advantage

a. Strength

Your firm has superior human resources capabilities. According to SWOT, this would be characterized as a(n): a. Strength b. Weakness c. Opportunity d. Threat