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Exam 3: Assessing the Internal Environment of the Firm

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Question 61

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Which of the following groups generally is charged with creating value through the process of organizing,coordinating,and leveraging employees as well as other forms of capital such as plant,equipment,and financial capital?

A) unions
B) boards of directors
C) managers
D) stakeholders

E) A) and D)
F) A) and C)

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Question 62

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General administration is sometimes viewed as only _______ but can be a powerful source of competitive advantage.

A) income
B) value
C) overhead
D) unimportant

E) A) and B)
F) None of the above

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Question 63

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XYZ Corp.is focusing on the objective of low-cost,high quality,on-time production by minimizing idle productive facilities and workers.The XYZ Corp.is taking advantage of a __________ system.

Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if

Managers should focus their attention on interrelationships among value-chain activities within the firm,not on relationships among activities within the firm and other organizations (such as suppliers and customers).

A strength of the balanced scorecard is that it is very easy to implement and that there is little need for executive sponsorship.

Information technology (IT)can also play a key role in enhancing the value that a company can provide its customers and,in turn,increasing its own revenues and profits.IT is an activity within the support activities of general administration.

Effective strategic planning processes are intangible resources.

Which of these categories of financial ratios is used to measure the ability of a firm to meet its short-term financial obligations?

Company __________,no matter how unique or impressive,may not enable it to achieve a competitive advantage in the marketplace.

Which of the following examples demonstrates how successful organizations manage their primary activities?

Excellent customer performance results from processes,decisions,and actions that occur only in the marketing efforts of the firm.

When using industry norms as a standard of comparison,managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

Frito-Lay uses crowdsourcing to make its Super Bowl ads.This is an example of a primary activity in the value chain.

The SWOT analysis can show managers how to achieve a competitive advantage.

Company reputation with customers,suppliers and other stakeholders is an intangible resource.

One advantage of SWOT analysis is that it helps managers to identify strengths that are almost always sources of sustainable competitive advantages.

Value-chain analysis can only be applied to manufacturing operations.

The profit margin ratio is used to measure long-term solvency.

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.