MNGT 4800 - Exam 2 Questions With
Correct Answers
T/F
A resource that is valuable and rare that can be imitated might provide an edge in the short-
term, but competitors can overcome such an advantage eventually. - answertrue
T/F
A distinctive competence is a set of strategic resources that a...
MNGT 4800 - Exam 2 Questions With Correct Answers T/F A resource that is valuable and rare that can be imitated might provide an edge in the short -
term, but competitors can overcome such an advantage eventually. - answer✔✔true T/F A distinctive competence is a set of strategic resources that an organization owns. - answer✔✔false T/F Cost leaders' emphasis on efficiency makes them vulnerable to price competition from rivals. - answer✔✔false T/F A firm following a differentiation str ategy attempts to convince customers to pay a premium price for its goods and services by providing unique and desirable features. - answer✔✔true T/F A firm following the focused cost strategy necessarily charges the lowest prices in the industry. - answe r✔✔false A firm that enjoys a(n) _____________ capability is one that is skilled at continually updating its array of capabilities in order to keep pace with changes in its environment. evolving strategic dynamic distinctive competitive - answer✔✔dynamic _________ provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays. trade secrets patents trademarks copyrights inventor rights - answer✔✔copyrights The formulation of Dr.Pepper's ingredients is an example of a(n)____________. inventor right patent trademark trade secret copyright - answer✔✔trade secret A value chain differs from a supply chain in that a value chain: - answer✔✔charts the path by which products and services are created and eventually sold to customers Which of the following theories for explaining a firm's competitiveness treats executives as the masters of their domains? transaction cost economies resource -based theory institutional theory environmental determinism enactment - answer✔✔enactment Transaction cost theory helps executives decide whether to pursue a _____ integration strategy or not.
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