BPL 5100 Test 2 Chapter 3-5 Questions And Complete Answers 2024/2025
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Course
BPL 5100
Institution
BPL 5100
Value Chain Analysis - Correct Answer Views a firm as a series of business processes that each add value to the product or service
Primary activities - Correct Answer sequential activities of the value chain that refer to the physical creation of the product or service, its sale and transfer...
BPL 5100 Test 2 Chapter 3-5 Questions And Complete
Answers 2024/2025
Value Chain Analysis - Correct Answer Views a firm as a series of business processes that each add value
to the product or service
Primary activities - Correct Answer sequential activities of the value chain that refer to the physical
creation of the product or service, its sale and transfer to the buyer, and its service after sale, including
inbound logistics, operations, outbound logistics, marketing and sales, and service
support activities - Correct Answer activities of the value chain that either add value by themselves or
add value through important relationships with both primary activities and other support activities,
including procurement, technology development, human resource management, and general
administration.
interrelationships - Correct Answer collaborative and strategic exchange relationships between value-
chain activities either (a) within firms or (b) between firms. Strategic exchange relationships involve
exchange of resources such as information, people, technology, or money that contribute to the success
of the firm.
resource-based view (RBV) of the firm - Correct Answer perspective that firms' competitive advantages
are due to their endowment of strategic resources that are valuable, rare, costly to imitate, and costly to
substitute
organizational capabilities - Correct Answer the competencies and skills that a firm employs to
transform inputs into outputs
path dependency - Correct Answer a characteristic of resources that is developed and/or accumulated
through a unique series of events
causal ambiguity - Correct Answer a characteristic of a firm's resources that is costly to imitate because
a competitor cannot determine what the resource is and/or how it can be re-created
, social complexity - Correct Answer a characteristic of a firm's resources that is costly to imitate because
the social engineering required is beyond the capability of competitors, including interpersonal relations
among managers, organizational culture, and reputation with suppliers and customers.
financial ratio analysis - Correct Answer a technique for measuring the performance of a firm according
to its balance sheet, income statement, and market valuation.
balanced scorecard - Correct Answer a method of evaluating a firm's performance using performance
measures from the customer, internal, innovation and learning, and financial perspectives
knowledge economy - Correct Answer an economy where wealth is created through the effective
management of knowledge workers instead of by the efficient control of physical and financial assets
intellectual capital - Correct Answer the difference between a firm's market value and book vlaue—that
is, a measure of the value of a firm's intangible assets
human capital - Correct Answer individual capabilities, knowledge, skills, and experience of the
company's
employees and managers
social capital - Correct Answer the network of relationships that individuals have throughout the
organization
explicit knowledge - Correct Answer knowledge that is codified, documented, easily reproduced, and
widely distributed
tacit knowledge - Correct Answer knowledge that is in the minds of employees and is based on their
experiences and backgrounds
Attracting Human Capital - Correct Answer -hire for attitude, train for skill
-recognizing the geographic preferences of talent
-using algorithms for selection
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