BUSI 4940 CH 3 - EXAM 2 REVIEW QUESTIONS AND
ANSWERS
Global Mindset:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - A
Value:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - C
tangible resources:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - B
intangible resources:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - D
Strategic human capital:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
, C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - C
Valuable capabilities:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - B
Rare capabilities:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - A
Costly-to-imite capabilities:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - D
Non-substitutible capabilities:
A. each part of a system depends on other parts of the system to create value. If one
part of the system is not functioning properly, it can hold back creation of value in the
entire system.
B. include the activities or tasks that firm completes in order to support the work being
done to produce, sell, distribute, and service the products the firm is producing.
C. are activities or tasks the firm completes in order to produce products and then sell,
distribute, and service those products in ways that create value for customers.
D. are capabilities that do not have strategic equivalents.
E. is the purchase of a value-creating activity or a support function activity from an
external supplier. - Answers - D
Value chain activities:
A. each part of a system depends on other parts of the system to create value. If one
part of the system is not functioning properly, it can hold back creation of value in the
entire system.
B. include the activities or tasks that firm completes in order to support the work being
done to produce, sell, distribute, and service the products the firm is producing.
C. are activities or tasks the firm completes in order to produce products and then sell,
distribute, and service those products in ways that create value for customers.
D. are capabilities that do not have strategic equivalents.
ANSWERS
Global Mindset:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - A
Value:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - C
tangible resources:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - B
intangible resources:
A. 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.
B. are assets that can be observed or quantified
C. is measured by a product's performance characteristics and by its attributes for which
customers are willing to pay.
D. are assets that are rooted deeply in the firm's history, accumulate over time, and are
relatively difficult for competitors to analyze and imitate. - Answers - D
Strategic human capital:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
, C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - C
Valuable capabilities:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - B
Rare capabilities:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - A
Costly-to-imite capabilities:
A. are capabilities that few, if any, competitors possess.
B. allow the firm to exploit opportunities or neutralize threats in its external environment.
C. allows a firm to develop capabilities through matching the knowledge, skills, and
abilities of their employees to particular strategic objectives.
D. are capabilities that other firms cannot easily develop. - Answers - D
Non-substitutible capabilities:
A. each part of a system depends on other parts of the system to create value. If one
part of the system is not functioning properly, it can hold back creation of value in the
entire system.
B. include the activities or tasks that firm completes in order to support the work being
done to produce, sell, distribute, and service the products the firm is producing.
C. are activities or tasks the firm completes in order to produce products and then sell,
distribute, and service those products in ways that create value for customers.
D. are capabilities that do not have strategic equivalents.
E. is the purchase of a value-creating activity or a support function activity from an
external supplier. - Answers - D
Value chain activities:
A. each part of a system depends on other parts of the system to create value. If one
part of the system is not functioning properly, it can hold back creation of value in the
entire system.
B. include the activities or tasks that firm completes in order to support the work being
done to produce, sell, distribute, and service the products the firm is producing.
C. are activities or tasks the firm completes in order to produce products and then sell,
distribute, and service those products in ways that create value for customers.
D. are capabilities that do not have strategic equivalents.
