A firm's _______ are best described as distinct and fine-grained business processes such as order taking, physical delivery of products, or invoicing customers. - Answer-activities
Which of the following is an example of a firm's capabilities? - Answer-skills involved in training and managing a ...
WPC 470 Chapter 4 Quiz Exam
Questions and Answers
A firm's _______ are best described as distinct and fine-grained business processes
such as order taking, physical delivery of products, or invoicing customers. - Answer-
activities
Which of the following is an example of a firm's capabilities? - Answer-skills involved in
training and managing a workforce
Which of the following statements accurately brings out the distinction between a firm's
resources and capabilities? - Answer-While resources reinforce core competencies,
capabilities allow managers to orchestrate their core competencies.
FL Systems Inc. and Oryxo Systems Inc. are two competing firms. FL Systems Inc. has
$300,000 in tangible assets and $200,000 in intangible assets. Oryxo Systems Inc. has
$150,000 in tangible assets and $347,000 in intangible assets. In the context of the
resource-based view, which of the following is the most likely implication of the asset
values of the two companies? - Answer-FL Systems Inc. will find it harder than Oryxo
Systems Inc. to attain competitive advantage.
The auditor of a public company is assessing the value of all the intangible assets
owned by the company. Which of the following would most likely be included in this
assessment? - Answer-the company's brand equity
Even though Easy Speak Inc. and KM Com Inc. operate in the same industry—
telecommunications—each firm has a different and loyal customer base. While Easy
Speak Inc. attracts young students and professionals through its efficient network
coverage and pricing, KM Com Inc. attracts elderly customers solely due to its excellent
customer service. Thus, both firms draw their strengths from distinct resource bundles.
Which of the following assumptions of the resource-based model of competitive
advantage does this scenario best illustrate? - Answer-resource heterogeneity
In a perfectly competitive industry structure - Answer-any competitive advantage that
one firm has will be short-lived.
In the context of the VRIO framework, a resource is said to be valuable if it - Answer-
allows a firm to take advantage of an external opportunity.
Onivo Auto Inc. has been the leader in low-cost and fuel-efficient engine technology for
many years. It has been able to sustain its competitive advantage primarily because of
its highly efficient automobile engines, which competitors have been unable to develop
or buy at a reasonable price. In the context of the VRIO framework, which of the
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