MAN 4720, Exam 1, Chapter 4 UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS
1. True or False: Core competencies allow a firm to distinguish itself from other firms that
provide products or services
a. False
b. True - Correct answers✔✔b. True
2. The ____ view provides a model that sees certain types of resources as key to superior firm
performance
a. Capability-based
b. Competency-based
c. Resource-based
d. Activity-based - Correct answers✔✔d. Activity-based
3. Resource _____ and resource ______ are the key assumptions behind the resource-based view
of the firm
a. Homogeneity; immobility
b. Heterogeneity; mobility
c. Heterogeneity; immobility
d. Homogeneity; mobility - Correct answers✔✔c. Heterogeneity; immobility
, 4. True or false: A competitive advantage can be maintained forever
a. False
b. True - Correct answers✔✔a. False
5. According to the dynamic capabilities perspective, competitive advantage stems from a firms
ability to
a. Explore and create the primary and secondary value systems
b. Form critical assumptions about the life cycle of the firm
c. Agilely transform its resources base
d. Remain in stable markets and avoid changing ones - Correct answers✔✔c. Agilely transform
its resources base
6. The _____ perspective is a model that emphasizes a firm's ability to MODIFY AND
LEVERAGE its resource base in a way that enables it to gain and sustain competitive advantage
a. Value chain
b. Resource flows
c. Resource-based
d. Dynamic capabilities - Correct answers✔✔d. Dynamic capabilities
7. _______ describe a firm's ability to create, deploy, modify, reconfigure, upgrade, or leverage
its resources in its quest for competitive advantage
a. Dynamic capabilities
ACTUAL QUESTIONS AND CORRECT
ANSWERS
1. True or False: Core competencies allow a firm to distinguish itself from other firms that
provide products or services
a. False
b. True - Correct answers✔✔b. True
2. The ____ view provides a model that sees certain types of resources as key to superior firm
performance
a. Capability-based
b. Competency-based
c. Resource-based
d. Activity-based - Correct answers✔✔d. Activity-based
3. Resource _____ and resource ______ are the key assumptions behind the resource-based view
of the firm
a. Homogeneity; immobility
b. Heterogeneity; mobility
c. Heterogeneity; immobility
d. Homogeneity; mobility - Correct answers✔✔c. Heterogeneity; immobility
, 4. True or false: A competitive advantage can be maintained forever
a. False
b. True - Correct answers✔✔a. False
5. According to the dynamic capabilities perspective, competitive advantage stems from a firms
ability to
a. Explore and create the primary and secondary value systems
b. Form critical assumptions about the life cycle of the firm
c. Agilely transform its resources base
d. Remain in stable markets and avoid changing ones - Correct answers✔✔c. Agilely transform
its resources base
6. The _____ perspective is a model that emphasizes a firm's ability to MODIFY AND
LEVERAGE its resource base in a way that enables it to gain and sustain competitive advantage
a. Value chain
b. Resource flows
c. Resource-based
d. Dynamic capabilities - Correct answers✔✔d. Dynamic capabilities
7. _______ describe a firm's ability to create, deploy, modify, reconfigure, upgrade, or leverage
its resources in its quest for competitive advantage
a. Dynamic capabilities
