Those critical strengths and weaknesses that are likely to determine if a firm

The resource-based perspective suggests that unique firm resources should be the starting point for developing successful strategies.

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Question 10
About the book
What are competitive advantage strengths and weaknesses?
Which are the question areas Barney proposes in his VRIO framework used to evaluate a firm's key resources select the items that apply?
What is the attribute of corporate culture that is the depth of the degree to which members of a unit accept the norms values or other culture content associated with the unit?
When a company uses the same marketing channel for two separate products?

a) the business opportunity should be the starting point for developing successful strategies

b) unique firm resources should be the starting point for developing successful strategies.

c) both business opportunity and unique firm resources should be the starting point for developing successful strategies.

d) neither business opportunity nor unique firm resources should be the starting point for developing successful strategies.

Question 3

SWOT is an abbreviation for:

a) Internal Strengths (S), Internal Weaknesses (W), External Opportunities (O), External Threats (T).

b) Integrated Strategies (S), Integrated Weaknesses (W), External Opportunities (O), External Threats (T).

c) External Strengths (S), External Weaknesses (W), Internal Opportunities (O), Internal Threats (T).

d) External Strengths (S), Internal Weaknesses (W), External Opportunities (O), Internal Threats (T).

Question 4

The concept of core competencies was originally devised by:

a) Michael E. Porter

b) John Dunning and John Child

c) C. K. Prahalad and Gary Hamel

d) Jay B. Barney

Question 5

The VRIO framework can be used to identify:

a) a firm's resources and external opportunities.

b) the organizational structure of multinational firms.

c) a firm's technical resources.

d) a firm's core competencies.

Question 6

Dynamic capabilities refer to:

a) the firm's ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments.

b) the link between subsidiary resource and multinational firm's competitive advantage in global markets.

c) the firm's dynamic capability to find resources that are valuable, rare, difficult to imitate and can be exploited by the organization.

d) the combination of individual technologies and production skills that underlie a company's multiple production lines and critically underpin the firm's competitive advantage.

Question 7

Value added is:

a) the cost saving through production and marketing efforts within the firm.

b) the value that a firm adds through the development of dynamic capabilities.

c) the value that a firm adds to bought-in materials and services through outsourcing.

d) the difference between the cost of inputs and the market value of outputs.

Question 8

Global value systems are sometimes referred to as:

a) Global value added

b) Global resource systems

c) Global value chains

d) Global capability linkages

Question 9

The systematic collection of information about rivals in order to assist the development of firm strategies is called:

a) Competitor intelligence

b) Internal benchmarking

c) Benchmarking

d) Functional benchmarking

Question 10

Functional benchmarking involves:

a) benchmarking your competitors.

b) benchmarking global competitors in your industry.

c) benchmarking organizations with regards to specific business activities or processes.

d) benchmarking other multinational firms with similar corporate strategies or similar customers.

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About the book

Find out more, read a sample chapter, or order an inspection copy if you are a lecturer, from the Higher Education website

What are competitive advantage strengths and weaknesses?

Strengths are resources and capabilities that a company has or has developed. Weaknesses are resources and capabilities that a company lacks or does not have enough of. In order to determine its core competencies and translate these into competitive advantages, a company must first assess its strength and weaknesses.

Which are the question areas Barney proposes in his VRIO framework used to evaluate a firm's key resources select the items that apply?

The correct answer is B) The four question areas proposed by Barney in VRIO framework are: The question of value. The question rareness. The question of imitability.

What is the attribute of corporate culture that is the depth of the degree to which members of a unit accept the norms values or other culture content associated with the unit?

Cultural intensity is the degree to which members of a unit accept norms, values, or other culture content associated with the unit. This shows the culture's depth.