Exam 4: Evaluating a Companys Resources, Capabilities, and Competitiveness

A) Those market opportunities that provide avenues for taking market share away from close rivals and enhance a company's image as a leader in product innovation and product quality.
B) Those market opportunities that offer the company a chance to raise entry barriers.
C) Those market opportunities that help promote greater diversification of revenues and profits.
D) Those market opportunities that match up well with the firm's financial resources and competitive capabilities, offer the best growth and profitability, and present the most potential for competitive advantage.
E) Those market opportunities that help correct a company's biggest weaknesses and competitive deficiencies.

Correct Answer

verified

Show Answer

A) capacity to improve existing resources and capabilities.
B) upgrades to R&D resources to drive product innovation.
C) capacity to add new resources and capabilities to the competitive asset portfolio.
D) ability to replace degraded resources with acquired capabilities.
E) All of these.

Correct Answer

verified

Show Answer

Correct Answer

Answered by ExamLex AI

A company competence refers to the overa...

View Answer

Show Answer

A) is a way of determining which competitor has the biggest overall competitive advantage in the marketplace and which competitor is faced with the biggest overall competitive disadvantage.
B) is the most reliable indicator of which industry member has the highest overall product quality.
C) is a powerful way of revealing which competitors are in the best and worst strategic groups.
D) is the most reliable indicator of which industry member has the lowest overall costs and is the low-cost leader.
E) pinpoints which industry rivals are most insulated from the industry's driving forces.

Correct Answer

verified

Show Answer

A) The key functional strategies (R&D, supply chain management, production, sales and marketing, HR, and finance) a company is employing
B) Management's planned, proactive moves to outcompete rivals (via better product design, improved quality or service, wider product lines, and so on)
C) The company's mission, strategic objectives, and financial objectives
D) Moves to respond and react to changing conditions in the macro-environment and in industry and competitive conditions
E) The strategic role of its collaborative partnerships and strategic alliances with others

Correct Answer

verified

Show Answer

A) whether the company has more competitive assets than it does competitive liabilities.
B) whether the company is in the industry's best strategic group.
C) the caliber of results the strategy is producing, specifically whether the company is achieving its financial and strategic objectives and whether it is an above-average industry performer.
D) whether the company has a shorter value chain than close rivals.
E) whether the company is in the Fortune 500.

Correct Answer

verified

Show Answer

Correct Answer

Answered by ExamLex AI

Show Answer

A) competitive strength analysis.
B) activity-based costing.
C) resource cost mapping.
D) SWOT analysis.
E) benchmarking.

Correct Answer

verified

Show Answer

A) a company's brand.
B) a productive input that is owned by the firm.
C) marketing and brand management.
D) R&D teams.
E) a productive input that is controlled by the firm.

Correct Answer

verified

Show Answer

A) trying to negotiate more favorable prices with suppliers and switching to lower priced substitute inputs.
B) forward vertical integration.
C) shifting into the production of substitute products.
D) shifting from a low-cost leadership strategy to a differentiation or focus strategy.
E) cutting selling prices and trying to win a bigger market share.

Correct Answer

verified

Show Answer

Correct Answer

Answered by ExamLex AI

1. Invest in technology and automation: ...

View Answer

Show Answer

A) is an accounting system that assigns a company's expenses to whichever activity in a company's value chain is responsible for creating the cost.
B) involves using benchmarking techniques to develop cost estimates for the value chain activities of each major rival.
C) is a powerful tool for identifying the different pieces of a company's value chain and classifying them as primary activities and support activities.
D) involves determining which value chain activities represent variable costs and which represent fixed costs.
E) is a tool for identifying the activities that cause a company's product to be strongly differentiated from the products of rivals.

Correct Answer

verified

Show Answer

A) represent its core competencies.
B) are the most important parts of the company's value chain.
C) signal whether it has the wherewithal to be a strong competitor in the marketplace.
D) give it excellent ability to insulate itself against the impact of the industry's driving forces.
E) combine to give it a distinctive competence.

Correct Answer

verified

Show Answer

A) consists of the primary activities that it performs in seeking to deliver value to shareholders in the form of higher dividends and a higher stock price.
B) depicts the internally performed activities associated with creating and enhancing the company's competitive assets.
C) consists of two broad categories of activities: the primary activities that create customer value and the requisite support activities that facilitate and enhance the performance of the primary activities.
D) concerns the basic process the company goes through in performing R&D and developing new products.
E) consists of the series of steps a company goes through to develop a new product, get it produced and distributed into the marketplace, and then start collecting revenues and earning a profit.

Correct Answer

verified

Show Answer

A) is a competitively important activity that a company performs better than its competitors.
B) gives a company competitively valuable capability that is unmatched by rivals.
C) is a basis for sustainable competitive advantage.
D) can underpin and add real punch to a company's strategy.
E) All of these.

Correct Answer

verified

Show Answer

A) represents a problem that needs to be turned into a strength because weaknesses prevent a firm from being a winner in the marketplace.
B) causes the company to fall into a lower strategic group than it otherwise could compete in.
C) prevents a company from having a distinctive competence.
D) usually stems from having a missing link or links in the industry value chain.
E) is something a company lacks or does poorly (in comparison to rivals) or a condition that puts it at a disadvantage in the marketplace.

Correct Answer

verified

Show Answer

A) determine whether the value chains of rival companies are similar or different.
B) benchmark the costs of primary value chain activities against the costs of the support value chain activities.
C) determine the costs of each primary and support activity comprising a company's value chain and thereby reveal the nature and make-up of a company's internal cost structure.
D) determine the costs of each strategic action a company initiates.
E) None of these accurately describes what activity-based costing is about.

Correct Answer

verified

Show Answer

A) Identifying a company's resource strengths and competitive capabilities
B) Benchmarking the company's resource strengths and competitive capabilities against industry key success factors
C) Identifying a company's market opportunities
D) Drawing conclusions about the company's overall business situation-what is attractive and what is unattractive about the company's circumstances?
E) Translating the results of the analysis into actions for improving the company's strategy and market position

Correct Answer

verified

Show Answer