MNGT 4800 Exam 2

Buzztronic is a market leader in consumer electronics. If Ficolee and Ficola, companies that manufacture televisions, develop the same customer knowledge base and create products with the same customer appeal as Buzztronic, then

Buzztronic will have a resource that is valuable but no longer rare

One of the reasons that Kodak filed for bankruptcy was due to its inability to reinvest, hone, and upgrade its once impressive film camera capabilities. Ultimately, Kodak's core competences became

core rigidities

Gr8t Food is a chain of "fast casual" restaurants that sells its menu items at higher prices than its competitors. The restaurant has a large customer base due to its wide product portfolio and superior customer service. Which of the following generic business strategies has Gr8t Food adopted in this scenario?

differentiation

________ is best described as the difference between a buyer's willingness to pay for a product or service and a firm's total cost to produce it.

economic value created

According to the resource-based view, a firm's competitive advantage often stems from its

intangible resources

Value chain analysis consists of systematically analyzing a firm's key activities that for analysis purposes are categorized into two groups

primary activities and support activities

Customer service and ________ are two of the value drivers that managers can utilize when trying to improve a firm's differentiation strategic position.

product uniqueness

Southwest Airlines (SWA) and Alaska Airlines both compete as point-to-point airlines, but they draw upon different resource bundles. This example best illustrates which of the following assumptions regarding the resource-based view?

resource heterogeneity

Amazon.com's network of distribution centers allow it to drastically reduce its delivery times compared to other online retailers. These distribution centers are examples of Amazon's

tangible resources

WeComput Inc.'s competency in designing and manufacturing efficient microprocessors has made its laptops the most advanced computers in the market. This competency, along with the just-in-time manufacturing system, has enabled WeComput Inc. to increase its profitability by lowering its production costs. Thus, WeComput's competency in designing and manufacturing microprocessors will be considered a(n) _____ resource in the VRIO framework.

valuable