Question 1

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Accepted Answer

A)  turnover ratios.
B)  leverage ratios.
C)  liquidity ratios.
D)  profitability ratios.E) B) and C)
F) None of the above

Question 2

Encyclopedia Britannica lost competitive positioning due to a misunderstanding of the change in competitors, when the CD-based encyclopedia became popular for home computers.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A)  How do customers see us?
B)  What must we excel at?
C)  How do we look to shareholders?
D)  Can we continue to improve and create value?E) A) and B)
F) All of the above C

Question 4

In the resource-based view of the firm, examples of tangible resources include

Accepted Answer

A)  financial resources, human resources, and firm competencies.
B)  financial resources, physical resources, and technological resources.
C)  financial resources, physical resources, and the capacity to combine intangible resources.
D)  outstanding customer service, innovativeness of products, and reputation.E) All of the above
F) A) and B)

Question 5

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?

Accepted Answer

A)  rare
B)  valuable
C)  easy for competitors to substitute
D)  difficult for competitors to imitateE) B) and C)
F) A) and D)

Question 6

Campbell Soup uses electronic networks in order to improve the efficiency of outbound logistics. This is an example of relationships among activities within the firm and with other stakeholders that are part of the company expanded value chain.

Accepted Answer

A) True 
 B)False

Question 7

If managers do not recognize from the beginning that the balanced scorecard is not a _________ and fail to commit to it long term, the organization will be disappointed.

Accepted Answer

A)  panacea
B)  quick fix
C)  marketing ploy
D)  cheap solutionE) All of the above
F) C) and D)

Question 8

Trade secrets are intangible resources.

Accepted Answer

A) True 
 B)False

Question 9

Historical comparisons are most appropriate during periods of recession or economic boom.

Accepted Answer

A) True 
 B)False  False

Question 10

__________ among organizations is played out over time.

Accepted Answer

A)  Negotiation
B)  Sustainability
C)  Competition
D)  LearningE) A) and B)
F) A) and C)

Question 11

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

Accepted Answer

A) True 
 B)False

Question 12

In considering the business from the internal business perspective using the balanced scorecard, periodic financial statements are used to indicate the consequences of improved quality, response time, productivity, and innovative products. These consequences include improved sales.

Accepted Answer

A) True 
 B)False  True

Question 13

Advertising is a __________ activity. Supply of replacement parts is a __________ activity.

Accepted Answer

A)  support; primary
B)  primary; primary
C)  primary; support
D)  support; secondaryE) B) and C)
F) A) and C)

Question 14

A travel agent adds value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates. In terms of the value chain analysis, this is an example of a ____________ organization.

Accepted Answer

A)  retail
B)  service
C)  manufacturing
D)  travelE) All of the above
F) None of the above

Question 15

Which of the following is a profitability ratio?

Accepted Answer

A)  current ratio
B)  total debt ratio
C)  total asset turnover
D)  return on equityE) All of the above
F) A) and C)

Question 16

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Accepted Answer

A) True 
 B)False

Question 17

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

Accepted Answer

A)  multiple strengths
B)  multiple opportunities
C)  a single strength
D)  a single opportunityE) C) and D)
F) A) and D)

Question 18

A travel agent does not add value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates.

Accepted Answer

A) True 
 B)False

Question 19

According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

Accepted Answer

A)  information systems
B)  technology development
C)  human resource management
D)  procurementE) A) and B)
F) All of the above

Question 20

Inbound logistics include

Accepted Answer

A)  machining and packaging.
B)  repair and parts supply.
C)  promotion and packaging.
D)  warehousing and inventory control.E) None of the above
F) All of the above

Exam 3: Assessing the Internal Environment of the Firm

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Correct AnswerverifiedShow Answer

Encyclopedia Britannica lost competitive positioning due to a misunderstanding of the change in competitors, when the CD-based encyclopedia became popular for home computers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedC

In the resource-based view of the firm, examples of tangible resources include

Correct AnswerverifiedShow Answer

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?

Correct AnswerverifiedShow Answer

Campbell Soup uses electronic networks in order to improve the efficiency of outbound logistics. This is an example of relationships among activities within the firm and with other stakeholders that are part of the company expanded value chain.

Correct AnswerverifiedShow Answer

If managers do not recognize from the beginning that the balanced scorecard is not a _________ and fail to commit to it long term, the organization will be disappointed.

Correct AnswerverifiedShow Answer

Trade secrets are intangible resources.

Correct AnswerverifiedShow Answer

Historical comparisons are most appropriate during periods of recession or economic boom.

Correct AnswerverifiedFalse

__________ among organizations is played out over time.

Correct AnswerverifiedShow Answer

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

Correct AnswerverifiedShow Answer

In considering the business from the internal business perspective using the balanced scorecard, periodic financial statements are used to indicate the consequences of improved quality, response time, productivity, and innovative products. These consequences include improved sales.

Correct AnswerverifiedTrue

Advertising is a __________ activity. Supply of replacement parts is a __________ activity.

Correct AnswerverifiedShow Answer

A travel agent adds value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates. In terms of the value chain analysis, this is an example of a ____________ organization.

Correct AnswerverifiedShow Answer

Which of the following is a profitability ratio?

Correct AnswerverifiedShow Answer

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Correct AnswerverifiedShow Answer

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

Correct AnswerverifiedShow Answer

A travel agent does not add value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates.

Correct AnswerverifiedShow Answer

According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

Correct AnswerverifiedShow Answer

Inbound logistics include

Correct AnswerverifiedShow Answer

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C

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False

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True

Advertising is a activity. Supply of replacement parts is a activity.

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