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Exam 4: Internal Analysis: Resources, Capabilities, and Core Competencies

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Question 51

Multiple Choice

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According to the _____,competitive advantage is the outflow of a firm's ability to modify and leverage its resource base in a way that enables it to gain and sustain competitive advantage in a constantly changing environment.

A) value chain perspective
B) two-factor theory
C) expectancy theory
D) dynamic capabilities perspective

E) A) and B)
F) B) and C)

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Question 52

Multiple Choice

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Which of the following describes a situation in which firms acquire resources at a low cost,laying the foundation for a competitive advantage later?

A) better expectations of future resource value
B) path dependence limiting current decisions
C) causal ambiguity
D) social complexity

E) None of the above
F) A) and D)

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Question 53

Multiple Choice

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In the context of the SWOT matrix,which of the following best exemplifies a firm's internal strength?

If a resource is rare or unique to a particular firm,then

Which of the following is an accurate statement about value chain analysis?

Home Value Inc.,Max Cart Inc.,and Nice Necessities Inc.are three consumer-product retailing companies.Their products consist primarily of day-to-day items that are easy to imitate and sell.All three companies use the same resources and capabilities in the production and distribution of their products.Which of the following is an implication of the market condition indicated in this scenario?

All Purpose Tires,Inc.is planning to build a manufacturing plant in Tornado Alley-an area that often gets hit by tornados.According to the SWOT analysis,this location is considered to be an

_____ are barriers to imitation that prevent rivals from competing away the advantage a firm may enjoy.

The perfectly competitive industry structure differs from the resource-based model in its view that

Kaleidoscope Inc.is a leading international apparel company.Competitors across the globe have failed to imitate Kaleidoscope Inc.'s production models,supply chain systems,knowledge systems,and culture.These attributes have remained unique to Kaleidoscope Inc.for a long time.Which of the following assumptions of the resource-based model of competitive advantage does this scenario best illustrate?

Given the accelerated pace of technological change,in combination with deregulation,globalization,and demographic shifts,a firm will only be successful today if its

Which of the following management tools will help determine the external opportunities and threats that affect a firm?

Riya has recently started a restaurant in a commercial area where there are many other established restaurants and popular fast-food chains.Riya owns the plot on which her restaurant is located and this makes her cost of operations lower than the competitors.This factor allows her to offer her products at a competitive price.Riya has also invested a huge amount on the interiors of the restaurant and in equipping the kitchen with the latest appliances used by her competitors.In this scenario,which of the following is the most valuable resource for Riya's business?

EasyOpen Inc.gained a patent for an electronic corkscrew.Soon the company made a huge profit on this device.Recently,however,other firms have produced electronic corkscrews.As a result,EasyOpen lost its competitive advantage.Which of the following would most likely be the reason for this development?

Which of the following statements correctly describes resource heterogeneity?

Which of the following statements accurately describes a firm's resource flow?

In the context of SWOT analysis,which of the following best exemplifies a firm's internal weakness?

Dynamic capabilities are essential for moving beyond a(n) _____ advantage.

Clean Rinse Shampoo has been the leader of hair-cleaning products for about 40 years.However,this company relied too long on its competency without refining or upgrading its product.As a result,other shampoo companies that began to offer organic shampoo gained a competitive advantage over Clean Rinse.This case is an example of

Next Door Cellular is a leading mobile network operator.Since most of the resources used by Next Door Cellular are easily available,the company's brand name is the only resource that distinguishes it from the other operators.No other competitor in the industry has a strong brand name like that of Next Door Cellular.This unique asset that has helped the company gain a competitive advantage will be considered as a(n) _____ resource in the VRIO framework.