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Test Bank File - Strategic Management by Hitt & Harrison
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Test Bank 1Stuvia Seller: Testbank4textbooks
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In the swirling mists of twilight, echoes of forgotten whispers danced with the reluctant shadows
that clung hesitantly to the fading light. Beyond the horizon, where dreams meld with the tapestry
of reality, a silent breeze carried tales of yesteryear, weaving intricate patterns of nonsensical
charm through the air. Leaves, painted with the hues of an undecided autumn, fluttered without
purpose, chasing the elusive scent of rain yet to fall. Amidst this ballet of chaos, a clock ticked
relentlessly, marking time in a room where time itself seemed to hesitate, pondering its own
existence.
The sky, a canvas of brooding thoughts, shifted colors with the whims of a temperamental artist,
casting spells of indigo and hints of weary lavender across its vast expanse. Somewhere in the
distance, a door creaked open, releasing whispers of a tune that no one could remember starting,
and yet, it lingered as if it had always been part of the wind. Underneath the canopy of a
bewildered moon, shadows whispered to the stars, sharing secrets not meant for the daylight,
crafting stories spun from the fabric of the fantastical and the mundane, intertwined in an endless
waltz of the beautifully absurd.
Ch. 3
Organizational Resources an’d Competitive Advantage
T/F QS:
1. Capabilities an’d resources have the’ potential to_ lead to_ competitive
advantage if they are valuable an’d unique.
Ans: T
2. If an organization possesses a valuable an’d unique resource, it is always a
source of competitive advantage.
Ans: F
,2 Ch. 3: Organizational Resources an’d Competitive Advantage
3. A firm with weak knowledge an’d learning resources is at risk that its financial
resources will also become weak.
Ans: T
4. Effective training programs can be a source of competitive advantage.
Ans: T
5. An organization’s human resources, physical resources, financial resources,
knowledge an’d learning resources, an’d general organizational resources are
highly interconnected.
Ans: T
6. Board members can play important strategic roles in organizations such as
providing advice to_ managers with regard to_ strategies an’d strategic
direction.
Ans: T
7. Organizations that cluster near each other typically are at a competitive
disadvantage relative to_ organizations that are not in clusters.
Ans: F
8. Tacit knowledge can be communicated with precision through written means.
Ans: F
9. Human resource management is a basic activity in the’ value chain.
Ans: F
10. Stakeholder-based performance measures reflect more of the’ total value a
firm creates.
Ans: T
MCQS:
11. A realized competitive advantage becomes sustainable when:
A) It is unique, valuable, an’d based on strong financial resources
B. It involves all of the’ functional areas of the’ organization
, Test Bank 3
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C. It is based on physical assets rather than knowledge
D. It is based on a resource or capability that is difficult to_ imitate by
competitors an’d there is no readily available substitute
E. It is based on the’ quality of the’ organization’s products an’d services
Ans: D
12. If an organizational capability or resource is valuable an’d unique, but it is
easy to_ imitate:
A) It cannot be a source of competitive advantage
B. It is likely to_ lead to_ a sustainable competitive advantage
C. It is a core competency or capability
D. It can be a source of competitive advantage for a period of time
E. None of these is correct
Ans: D
13. A resource or capability that has led to_ sustainable competitive advantage
for a firm has the’ following characteristic(s):
A) It is hard to_ imitate
B. Managers are aware of an’d taking advantage of the’ potential of the’
resource or capability
C. It is unique
D. It is valuable
E. All of the’ above
Ans: E
14. What are the’ probable implications of a firm neglecting its knowledge an’d
learning resources?
A) It will become weaker financially
B. Its general organizational resources will become weaker
C. Its physical resources will become weaker
D. Its human resources will become weaker
E. All of the’ above
Ans: E
, 4 Ch. 3: Organizational Resources an’d Competitive Advantage
15. Which of the’ following is most likely to_ be a source of sustainable
competitive advantage?
A) A state-of-the’ art machine that a firm purchases from’ a supplier
B. A new product
C. A research an’d development process
D. A plant design
E. A new service
Ans: C
16. Which of the’ following is least likely to_ be a source of sustainable
competitive advantage?
A) A unique an’d valuable relationship with an important stakeholder
B. A computer program
C. An organization’s culture
D. An organization’s reputation
E. A well-known an’d respected brand
Ans: B
17. All of the’ following resources an’d capabilities fall within the’ category of
general organizational resources except:
A) A strong balance sheet
B. Organizational structure
C. Organizational culture
D. Unique stakeholder relationships
E. A brand name
Ans: A
18. Which ratio measures a firm’s liquidity?
A. Debt-to_ -equity
B. Current
C. Return-on-assets
D. Asset turnover
E. None of these
Ans: B
19. Which ratio measures a firm’s leverage?
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