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Exam 3: Assessing the Internal Environment of the Firm

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Question 71

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A competitive advantage based on inimitability can be sustained for at least some time, if it has the following characteristics:

A) psychographic uniqueness, path dependency, causal ambiguity, and substitutability.
B) physical uniqueness, path dependency, causal ambiguity, and social complexity.
C) rarity, path dependency, causal ambiguity, and social substitutability.
D) geographic uniqueness, cause dependency, social ambiguity, and path complexity.

E) C) and D)
F) B) and D)

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Question 72

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Effective strategic planning processes are intangible resources.

A) True
B) False

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Question 73

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The customer perspective of the balanced scorecard answers which of the following questions?

German truck and trailer manufacturer, Schmitz Cargobull, mainly serves customers that are operators of truck or trailer fleets. What sets the company apart is its expertise in telematics (the integrated application of telecommunications data) to monitor the current state of any Schmitz Cargobull-produced trailer. This is an example of using ________ to enhance customer value and increase _______ position.

Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.

In considering the business from the innovation and learning perspective using the balanced scorecard, the ability of the firm to do well is more dependent on its intangible and tangible assets.

Products and services that are difficult to imitate help firms sustain their profitability.

Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. It supports

Which of the following is a support activity?

People want to partner with you because they have heard you are a credible company built through a culture of trust. In a sense, being a great company to work for also makes you a great company to work with. This is an example of causal ambiguity.

Capabilities that exhibit causal ambiguity are difficult to imitate.

Toyota paid a heavy price for its excessive emphasis on cost control. By focusing on one strength exclusively, it suffered severe losses. This is an example of the limitations of a SWOT analysis.

Comcast gets a bad review on Yelp. This is an example of harm to a tangible resource.

The current ratio is used to measure long-term solvency.

Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis?

In using crowdsourcing as a means to integrate the customer into the value chain, there are some perils to consider. Which of the following is not related to crowdsourcing perils?

Firms that are successful in creating competitive advantages that are sustainable for a period of time do not have to be concerned about profits being retained by employees or managers.

Campbell Soup uses an electronic network to facilitate its continuous-replenishment program with its most progressive retailers. This is known as an operations primary activity in the value chain.

If a firm builds its strategy on a capability that cannot, by itself, create or sustain competitive advantage, it is wasting its time and resources.

In value-chain analysis, value is measured by the market value of the total stock outstanding of the company.