Bus 401 Chapter 3 Internal Analysis: Strengths, Weaknesses, and
Competitive Advantage || Answered Perfectly 100%.
the resources and capabilities that can create and sustain a com-petitive advantage correct
answers internal abilities
Winning in time means that a firm has a competitive advantage; winning over time requires that
advantage to be sustain-able correct answers Winning in time means that a firm has a
competitive advantage; winning over time requires that advantage to be sustain-able
A visual description of the steps required to turn raw materials into finished products and/or
services. The value chain also describes key functions of the company linked to each stage and
functions that span its productive activities correct answers value chain
- "way to depict and eval-uate the activities a company performs."
- "it also can help to identify which activities represent the firm's competitive strengths and
weaknesses"
- "The value chain helps managers identify areas in which a firm has an absolute strength but
provides no guidance about strength relative to competitors. "
- "So, the value chain can be used to answer the important question, "What is a firm good at?""
- "However, it can't be used to answer the critical question, "What is the firm better at than
relevant competitors?" correct answers value chain
The value chain picture (figure) on slides one is better correct answers The value chain picture
(figure) on slides one is better
are what a firm employs to create value and competitive advantage correct answers Resources
All assets, brands, land, information, knowledge, and so on, controlled by a firm that enable it to
conceive of and implement strategies that improve its efficiency and effectiveness correct
answers resources
, represent how firms do things—the processes they use correct answers Capabilities
The procedures, processes, and routines firms employ in their activities correct answers
capabilities
explain why firms allocate critical resources to achieve key objectives correct answers Priorities
A firm's values and rankings of what is most important correct answers priorities
Resources provide the answer to the question correct answers Resources provide the answer to
the question
Tangible or intangible resources or factors of production that create economic value for the firm
when employed. This chapter focuses on physical, financial, human, and intangible assets correct
answers assets
- "This definition clearly identifies what could be a resource, but its breadth makes it difficult to
identify and limit what types of things count as a resource."
- "Resources are the "what" of competitive advantage"
"Most resources are, or could be, counted and quantified on a firm's correct answers balance
sheet as assets
- "Accountants classify resources as tangible or intangible assets. "
- "Tangible resources are those with physical presence, such as land, factories, machinery,
equipment, or cash."
- " Intangible resources are economically valuable assets that "do not have physical presence,"
and include brands, licenses patents, knowledge, and reputation"
1. Physical resources, such as plant or equipment
2. Financial resources, such as free cash flow
3. Human resources, including employee know-how, management skill, and talents
Competitive Advantage || Answered Perfectly 100%.
the resources and capabilities that can create and sustain a com-petitive advantage correct
answers internal abilities
Winning in time means that a firm has a competitive advantage; winning over time requires that
advantage to be sustain-able correct answers Winning in time means that a firm has a
competitive advantage; winning over time requires that advantage to be sustain-able
A visual description of the steps required to turn raw materials into finished products and/or
services. The value chain also describes key functions of the company linked to each stage and
functions that span its productive activities correct answers value chain
- "way to depict and eval-uate the activities a company performs."
- "it also can help to identify which activities represent the firm's competitive strengths and
weaknesses"
- "The value chain helps managers identify areas in which a firm has an absolute strength but
provides no guidance about strength relative to competitors. "
- "So, the value chain can be used to answer the important question, "What is a firm good at?""
- "However, it can't be used to answer the critical question, "What is the firm better at than
relevant competitors?" correct answers value chain
The value chain picture (figure) on slides one is better correct answers The value chain picture
(figure) on slides one is better
are what a firm employs to create value and competitive advantage correct answers Resources
All assets, brands, land, information, knowledge, and so on, controlled by a firm that enable it to
conceive of and implement strategies that improve its efficiency and effectiveness correct
answers resources
, represent how firms do things—the processes they use correct answers Capabilities
The procedures, processes, and routines firms employ in their activities correct answers
capabilities
explain why firms allocate critical resources to achieve key objectives correct answers Priorities
A firm's values and rankings of what is most important correct answers priorities
Resources provide the answer to the question correct answers Resources provide the answer to
the question
Tangible or intangible resources or factors of production that create economic value for the firm
when employed. This chapter focuses on physical, financial, human, and intangible assets correct
answers assets
- "This definition clearly identifies what could be a resource, but its breadth makes it difficult to
identify and limit what types of things count as a resource."
- "Resources are the "what" of competitive advantage"
"Most resources are, or could be, counted and quantified on a firm's correct answers balance
sheet as assets
- "Accountants classify resources as tangible or intangible assets. "
- "Tangible resources are those with physical presence, such as land, factories, machinery,
equipment, or cash."
- " Intangible resources are economically valuable assets that "do not have physical presence,"
and include brands, licenses patents, knowledge, and reputation"
1. Physical resources, such as plant or equipment
2. Financial resources, such as free cash flow
3. Human resources, including employee know-how, management skill, and talents
