SBVC Exam Questions With Correct
Answers
What are some aspects that make a business unique?
| | | | | | | |
1. Excellent leadership
| |
2. Brand portfolio
| |
3. Partnerships
|
4 Teamwork
|
5. Strong financial position
| | |
6. Global presence
| |
7. Well-managed processes
| |
8. Innovative ideas
| |
What is an Acquired Resource?
| | | |
-Often money-derived
|
-A resource is something a company owns. In theory, you can spend
| | | | | | | | | | | |
money and immediately acquire a resource
| | | | |
Examples of acquired resources | | |
,-Cash
-Facilities
-Distribution networks |
-Production equipment |
What are Know-How Resources?
| | |
-Resources can also refer to Internal Know-How
| | | | | |
-Collective competencies (an embodiment of know-how)
| | | | |
-Built on the premise of the experience, skills, and knowledge held
| | | | | | | | | | |
within the resource pool
| | |
-The skills embodied within the company's resources are elements
| | | | | | | | |
which can then be used in daily business processes to generate a certain
| | | | | | | | | | | |
service or product
| | |
What are assets held by a firm?
| | | | | |
A concept we can use to capture both the idea of a resource (a thing
| | | | | | | | | | | | | | |
that is owned) and a capability (an ability to effectively use the
| | | | | | | | | | | |
resource). Both have value! | | |
,What are capabilities?
| |
-Capabilities are what the company is able to do with its resources
| | | | | | | | | | |
-Capabilities can thus be seen as: | | | | |
-Ways in which the skills, experience, and qualifications embodied in the
| | | | | | | | | |
HR resources can in turn leverage systems, equipment, facilities, and
| | | | | | | | | | |
networks etc. |
-Make good use of that which the company owns/controls
| | | | | | | |
-Capabilities are things that orgs develop with time| | | | | | |
What are VRIO resources?
| | |
Valuable
Rare
Inimitable (Costly to imitate) | | |
Organized to capture value | | |
These are firm-internal analyses
| | |
When is a resource or capability valuable to the firm?
| | | | | | | | |
-A resource or capability is valuable (internally) if:
| | | | | | |
-It works to exploit an opportunity or
| | | | | |
, -It works to mitigate a threat
| | | | |
In the marketplace (external)
| | |
What insight or value can VRIO create?
| | | | | |
-Take advantage of previously unrecognized competitive advantages
| | | | | |
-Set future plans
| |
-Better allocate business resources
| | |
-Help ID and evaluate potential opportunities and threats
| | | | | | |
-Help judge which threats to prioritize
| | | | |
What are human assets of firms?
| | | | |
-All the experience, knowledge, skills, judgment, risk-taking propensity,
| | | | | | | |
and wisdom of individuals associated with the firm
| | | | | | |
-Capabilities in this sphere will be those embodied by the abilities of
| | | | | | | | | | | |
these human resources to ion turn leverage the systems, equipment,
| | | | | | | | | |
facilities, and networks, etc. that the company owns/controls (acquired
| | | | | | | | |
resources)
Examples of Human Assets | | |
Answers
What are some aspects that make a business unique?
| | | | | | | |
1. Excellent leadership
| |
2. Brand portfolio
| |
3. Partnerships
|
4 Teamwork
|
5. Strong financial position
| | |
6. Global presence
| |
7. Well-managed processes
| |
8. Innovative ideas
| |
What is an Acquired Resource?
| | | |
-Often money-derived
|
-A resource is something a company owns. In theory, you can spend
| | | | | | | | | | | |
money and immediately acquire a resource
| | | | |
Examples of acquired resources | | |
,-Cash
-Facilities
-Distribution networks |
-Production equipment |
What are Know-How Resources?
| | |
-Resources can also refer to Internal Know-How
| | | | | |
-Collective competencies (an embodiment of know-how)
| | | | |
-Built on the premise of the experience, skills, and knowledge held
| | | | | | | | | | |
within the resource pool
| | |
-The skills embodied within the company's resources are elements
| | | | | | | | |
which can then be used in daily business processes to generate a certain
| | | | | | | | | | | |
service or product
| | |
What are assets held by a firm?
| | | | | |
A concept we can use to capture both the idea of a resource (a thing
| | | | | | | | | | | | | | |
that is owned) and a capability (an ability to effectively use the
| | | | | | | | | | | |
resource). Both have value! | | |
,What are capabilities?
| |
-Capabilities are what the company is able to do with its resources
| | | | | | | | | | |
-Capabilities can thus be seen as: | | | | |
-Ways in which the skills, experience, and qualifications embodied in the
| | | | | | | | | |
HR resources can in turn leverage systems, equipment, facilities, and
| | | | | | | | | | |
networks etc. |
-Make good use of that which the company owns/controls
| | | | | | | |
-Capabilities are things that orgs develop with time| | | | | | |
What are VRIO resources?
| | |
Valuable
Rare
Inimitable (Costly to imitate) | | |
Organized to capture value | | |
These are firm-internal analyses
| | |
When is a resource or capability valuable to the firm?
| | | | | | | | |
-A resource or capability is valuable (internally) if:
| | | | | | |
-It works to exploit an opportunity or
| | | | | |
, -It works to mitigate a threat
| | | | |
In the marketplace (external)
| | |
What insight or value can VRIO create?
| | | | | |
-Take advantage of previously unrecognized competitive advantages
| | | | | |
-Set future plans
| |
-Better allocate business resources
| | |
-Help ID and evaluate potential opportunities and threats
| | | | | | |
-Help judge which threats to prioritize
| | | | |
What are human assets of firms?
| | | | |
-All the experience, knowledge, skills, judgment, risk-taking propensity,
| | | | | | | |
and wisdom of individuals associated with the firm
| | | | | | |
-Capabilities in this sphere will be those embodied by the abilities of
| | | | | | | | | | | |
these human resources to ion turn leverage the systems, equipment,
| | | | | | | | | |
facilities, and networks, etc. that the company owns/controls (acquired
| | | | | | | | |
resources)
Examples of Human Assets | | |
