Internal analysis is concerned with identifying a company's opportunities and weaknesses. correct answers False
Together with an analysis of the company's external environment, internal analysis gives managers the information they need to choose the business model and strategies that will enable...
MGT 499 Exam 1 - Chapter 3(with Errorless answers)
Internal analysis is concerned with identifying a company's opportunities and weaknesses. correct
answers False
Together with an analysis of the company's external environment, internal analysis gives managers the
information they need to choose the business model and strategies that will enable their company to attain
a sustained competitive advantage. correct answers True
If a company's profitability is higher than the industry average, it has a competitive advantage. correct
answers True
Distinctive competencies are firm-specific strengths that allow a company to differentiate its products
and/or achieve substantially lower costs than its rivals. correct answers True
Toyota's lean production system is the basis of its competitive advantage. correct answers True
All resources are tangible; there is no such thing as intangible resources. correct answers False
The more a resource is firm-specific and difficult to imitate, the more likely a company holding that
resource is said to have a distinctive competency. correct answers True
According to Rose Marie Bravo of Burberry, creative ideas may come from a number of sources, but not
from the accounting department, for good reasons. correct answers False
The price a company charges for a good or service is typically more than the utility placed on that good or
service by the customer. correct answers False
The more utility a company creates for its customers, the more flexibility it has in determining prices.
correct answers True
At the heart of any company's business model is the combination of congruent strategies aimed at creating
distinctive competencies that differentiate its products and result in a lower cost structure. correct answers
True
, When a company has differentiated products, they have less pricing options. correct answers False
A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.
correct answers True
At Adam's bicycle repair shop, the primary value chain activity of production occurs each time a
customer's bicycle is repaired. correct answers True
Walmart pursues a low cost operator policy. correct answers True
The building blocks of competitive advantage are efficiency, quality, innovation, and profitability. correct
answers False
Employee productivity is a common measure of efficiency. correct answers True
Imitating a company's capabilities tends to be more difficult than imitating its tangible and intangible
resources. correct answers True
Patents typically provide the greatest barrier to imitation. correct answers False
Absorptive capacity refers to the ability of an enterprise to identify, value, assimilate, and use new
knowledge. correct answers True
Unfortunately, quality as excellence and quality as reliability are concepts that apply to goods but not
services. correct answers False
The importance of reliability in building competitive advantage has increased dramatically over the past
decade correct answers True
Taken together, factors such as existing strategic commitments and low absorptive capacity limit the
ability of established competitors to imitate the competitive advantage of a rival. correct answers True
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