Exam (elaborations)
Mgmt 434 chapter 3 Quiz 3 Exam( elaboration) Questions & answers
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Mgmt 434 chapter 3 Quiz 3 Exam( elaboration) Questions & answers
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Mgmt434
chapter
3
Quiz
3
__________
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.Strategic
thinking
b.Competency-discovering
c.Profit-pooling
d.A
global
mind-set
-
ANS-d.A
global
mind-set
A
firm's
core
competencies,
integrated
with
an
understanding
of
the
results
of
studying
the
conditions
in
the
external
environment,
should:
a.drive
the
selection
of
strategies.
b.increase
the
firm's
market
share.
c.lead
to
a
first-mover
advantage.
d.guarantee
profits.
-
ANS-a.drive
the
selection
of
strategies.
A
major
reason
outsourcing
is
effective
is
that:
a.it
permits
unlimited
access
to
capital
resources.
b.few
firms
possess
superior
capability
in
each
value
chain
activity
and
support
function.
c.it
increases
the
innovative
potential
of
the
firm.
d.competitors
do
not
have
access
to
the
same
external
sources.
-
ANS-b.few
firms
possess
superior
capability
in
each
value
chain
activity
and
support
function.
A
person
who
has
made
a
successful
decision
when
no
obviously
correct
model
or
rule
is
available
or
when
relevant
data
are
unreliable
or
incomplete
has
exercised:
a.foresight.
b.decisiveness.
c.judgment. d.effective
strategic
thinking.
-
ANS-c.judgment.
A
veterinary
practice
has
added
a
pet
boarding
and
grooming
facility.
Most
of
the
practice's
competitors
also
provide
these
services.
The
veterinary
practice
is
gaining
competitive:
a.advantage.
b.disadvantage.
c.neutrality.
d.parity.
-
ANS-d.parity.
Capabilities
allow
the
firm
to
a.
have
power
over
suppliers.
b.
have
power
over
buyers.
c.
deliver
cost
savings
to
customers.
d.
turn
inputs
into
outputs.
-
ANS-d.
turn
inputs
into
outputs
Coffee
roasting
is
described
as
one
of
Starbucks'
valuable
resources.
T/F
-
ANS-False
Compared
to
tangible
resources,
intangible
resources
are
__________
and
__________.
a.more
visible;
less
difficult
to
copy
b.more
visible;
more
difficult
to
copy
c.less
visible;
more
difficult
to
copy
d.less
visible;
less
difficult
to
copy
-
ANS-c.less
visible;
more
difficult
to
copy
Compared
to
tangible
resources,
intangible
resources
are:
a.less
likely
to
be
the
focus
of
strategic
analysis.
b.a
superior
source
of
capabilities.
c.more
likely
to
be
reflected
on
the
firm's
balance
sheet.
d.of
less
strategic
value
to
the
firm.
-
ANS-b.a
superior
source
of
capabilities.
External
factors
(general,
industry,
competitor)
explain
nearly
50%
more
of
a
firm's
performance
variation
than
do
Internal
factors
(resources
and
capabilities).
T/F
-
ANS-False
One
capability
that
can
be
learned
from
failure
is
when
to:
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