Chapter 3

All of the following were traditional sources of competitive advantage except

a highly educated labor market

Value capabilities

allow the firm to exploit opportunities or neutralize in its external environment

One capability that can be learned from failure is when to

quit

Subscriptions to the New York Times have been decreasing as more customers receive their news through other media. At the same time, advertisers have shifted portions of their spending to other media. The NYT's managers are making decisions under

uncertainty

______ is the ability to analyze, understand, and manage an internal organization in ways that are not dependent on the assumptions of a single country, culture, or context.

A global mind set

All competitive advantages have

a limited life

Compared to tangible resources intangible resources are

a superior source of capabilities

A decision that results in failure

allows for learning

Which of the following is NOT a component of internal analysis leading to competitive advantage?

analysis of supplier power

Internal analysis enables a firm to determine what the firm

can do

Capabilities that other firms cannot develop easily are classified as

costly to imitate

A major department store chain has a strict policy of banning photographs or videos of its sales FLOOR or back-room operations. It also does not allow academics to conduct studies of it for publication in research journals. In fact, some of its own top managers refer to the management's policies on secrecy as "verging on paranoid." These policies indicate that the top management of the firm believes the organization's core competencies

imitable

Government agencies are known for having so many layers and rules that decisions are made slowly and inefficiently. In this case the ______ resource is a detriment to taxpayers using and paying for the bureaucracy.

organizational

Which of the following is true about outsourcing?

outsourcing allows firms to concentrate on those areas in which they can create value

The corporate research division of Siemens files, on average, 25 patents a day. patents are___ resources

technological

The three conditions that characterize difficult managerial decisions concerning resources, capabilities, and core competencies are

uncertainty, complexity, and intra organizational conflicts