Receive an answer explained step-by-step. turning over an organizational activity to an outside supplier. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ Planning Correct Answer: Explore answers and other related questions. True B) rare, inimitable, physically unique, nonsubstitutable. Strategic Planningb. b. Communicates to stakeholders the hierarchical corporate structure. D) top management providing a key role in collaborating with important customers. Power or employees The balanced scorecard provides top managers with a _____________ view of the business, The balanced scorecard developed by Kaplan and Norton helps to integrate. Which of the following is an example of a technological resource? How should managers assess changes in their firm's competitive position in their industries during a period of unusual economic growth? Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. a process through which unique products that command high prices and high margins gradually lose their ability to do so. True or False Please explain, Artifacts reflecting values of an organization include, The foundation of many capabilities lies in the skills and knowledge of a firm's stockholders A. Centralized decisions The major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumer group is: a. Concentric diversification A. D) rare, valuable, physically unique, causally ambiguous. C) Organizational routines. If not then culture provides Southwest with a temporary competitive advantage over its rivals, but competitors can imitate it. The bands magic vanishes as quickly as it appeared, however. Straddling strategies as an approach to strategic management is not recommended for which reason: It is an attempt to gain competitive advantage based on overall lowcost provider of a product, Research shows that straddling strategies leads to confusion among managers about the, It is an indication that the firm's managers have not made necessary choices about the, According to Porter straddling strategies is recommended for narrow scope firms that have, The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and. It is important to distinguish strategic resources from other resources. Workers at the Cambodian plant produce the clothing according to the European firm's designs and specifications. The evaluation occurs within the industry of the firm being evaluated. In the value chain, which of the following activities is deemed to add direct value to a firm? What are the degrees of freedom for Strategic Management by Reed Kennedy is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted. b. D) supports mostly support activities but does have some impact on primary activities. opportunities or negate threats in the environment. b. a. Which of the following examples demonstrates how successful organizations manage their primary activities? To capture more consumers A) Compare the firm's financial ratios with ratios of firms in other strategic groups in the industry. D) the effectiveness of its lobbying activities. c. Strong competitive threats from product substitutes Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above-average returns includes all of the following EXCEPT: a. Thus an organization cannot hope to create an enduring competitive advantage around common resources. ~~~~~\text{Water bill} & & 24.50 & 31.70\\ To satisfy the mission and vision When the bands usual drummer has to miss a gig due to injury, the door is opened for charismatic drummer Guy Patterson, whose energy proves to be the final piece of the puzzle for The Wonders. Southwests culture arose from its very humble beginnings and has evolved across decades. This may provide bargaining power for the firm in the marketplace. reading all the available information carefully, prepare a two page (double-spaced) essay and answer the following questions:Assume that we have the following data:C=100+0.50YIp=100-20rMt=0.10YMs=100-10rM=80a. Resource-based theory can be confusing because the term resources is used in many different ways within everyday common language. Said differently, a firm that enjoys a dynamic capability is skilled at continually updating its array of capabilities to keep pace with changes in its environment. Study with Quizlet and memorize flashcards containing terms like A firm's tangible resource includes which of the following?, A firm's strategy includes which of the following:, T or F: Not all organizations need strategies to survive and thrive. Provide employees with HR support in the event they choose to leave the. C) criteria for lease versus purchase decisions. d. Top-down process Intangible resources include, for example, the knowledge and skills of employees, a firm's reputation, brand name, exclusive rights . Suppliers and buyers with little bargaining power Examples include all of the following except: A) negotiating and maintaining ongoing relations with regulatory bodies. O - Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to aparticular market niche D) short-term perspectives and strategic positioning. Recruitment c. Service d. Procurement c; Medium The three key types of resources that are central to the resource-based view of the firm are: A) tangible resources, intangible resources, and organizational structure. Question: What is the average total cost when two units of labor (L) are employed? Despite having three of the four properties of strategic resources, water in the United States has remained cheap; however, this may be changing. \text{Expenses} & & \text{Budgeted} & \text{Spent}\\[10pt] C) Every organization has a routine that it follows for its procedures and processes. A firm's tangible resource includes which of the following? The Cambodian plant is an example of which type of business? firms that execute the design blueprints provided by western firms. B) Whenever a company improves or developed its capabilities to support innovation, the organization is said to have the capacity for innovation. If yes, go to number 3. Learn more about how Pressbooks supports open publishing practices. Not surprisingly, Coca-Cola ranks among the top twelve in Fortunes Worlds Most Admired Companies for 2020. False Please Explain, What is the relationship between enterprise information management and self-service portals? a. The best measure of a company's ability to meet imminent financial obligations is known as the. ~~~~~\text{Dining out} & & 100.00 & 63.80\\[10pt] Planning A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the. Course Hero is not sponsored or endorsed by any college or university. A US firm has outsources its textile manufacturing to aBangledesh for the last 10 years. How do management and employee self-service portals improve organizational efficiency? Acknowledged by top management One key reason is a legendary organizational culture that inspires employees to do their very best. Specifically, it is important to recognize that strategic resources can be created by taking several strategies and resources that each could be copied and bundling them together in a way that cannot be copied. Explanation: Tangible resources have a physical form, t, 5. Also, water cannot be imitated (at least not on a large scale), and no other substance can substitute for the life-sustaining properties of water. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ Superiority in competitive advantage refers to all of the following factors EXCEPT: a. ~~~~~\text{Electric bill} & & 45.00 & 44.35\\ Although the airline industry is extremely competitive, Southwest Airliness turns a profit virtually every year. Because of this unusual history, other airlines could not replicate Southwests culture, regardless of how hard they might try. \end{array} Southwest Airliness culture provides the firm with uniquely strong employee relations in an industry where strikes, layoffs, and poor morale are common. d. Unique style While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is: Strategic focus. Option C is also incorrect here. Resources that do not have all four qualities can still be very useful, but they are unlikely to provide long-term advantages. You can view this video here: https://youtu.be/BJn-Jl2ZeQU. B, a. : an American History (Eric Foner), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. 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Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. This means that a firm has a unique ability to create new capabilities. Ans. How was the resistance (if any) overcome? accounting. By how much? Such competitive advantages are based upon. the K-W test? D. T or F B) in periods of recession or economic boom. Intangible resources are quite difficult to see, touch, or quantify. Tangible resources are resources that can be readily seen, touched, and quantified. Capabilities are needed to bundle, to manage, and otherwise to exploit resources in a manner that provides added value to customers and creates advantages over competitors. This is an example of which concept? Course Hero is not sponsored or endorsed by any college or university. In a 300-500 word Learning Journal, identify a management principle or method from the course for each of the four functions of management. This worked, A number of things organizations can do prior to change to prepare employees include which of the following? Experts are tested by Chegg as specialists in their subject area. A useful way to identify a company's resources is to view them as: A. divided into two main categories, tangible and intangible. A firm's tangible resource includes which of the following?a. Satisfying only one or two of the valuable, rare, difficult-to-imitate, organized to capture value criteria will likely only lead to competitive parity or a temporary advantage. If yes, go to number 4. Cost leadership is a low-cost, broad-based market strategy. Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingin order to create a unique business model in which effectiveness and efficiency is the envy of competitors. Design and emergence strategies involve specific levels of the organization. This is an example of their. A companys value derives not from things, but from ____________. D. At Intel the key historic decision to abandon memory chips and concentrate upon microprocessors was the result of which of the following? Chi, T. (1994). & &\text{Amount}& \text{Amount}\\ For firms such as Walgreen Co. (a chain of drugstores), information systems have been a source of competitive advantage by enabling them to. Strategy formulation is an essential component of the POLC framework: a. d. Moderate to high rivalry Physical assets such as a firm's property, plant, and equipment, as well as cash, are considered to be tangible resources. A firm's tangible resource includes which of the following? Low entry barriers 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. Low cost Historical comparisons are often misleading. More specifically, capabilities refer to the firms ability to bundle, manage, or otherwise exploit resources in a manner that provides added value and, hopefully, advantage over competitors. Although not a formal band member, Mattinglys girlfriend Faye provides emotional support to the group and even suggests the groups name. 12.-. Capacity for innovationc. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. To most individuals, cash is an important resource. Resources that can be readily seen, touched, and quantified, such as cash or equipment, Resources that are not physical, like a firms reputation, a patent, or employee knowledge, Resources that provide an organization with an opportunity to develop competitive advantages over its rivals. B) Capacity for innovation. A useful tool for taking stock of organizational capabilities is the ______________. ~~~~~\text{Clothing } & & 40.00 & 31.75\\ d. Relatively moderate rivalry C. physical resources, such as the company's brand, image, and reputation . ~~~~~\text{Telephone bill} & & 35.00 & 41.20\\ Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. DIFFICULT-TO-IMITATE resources often involve legally protected intellectual property such as trademarks, patents, or copyrights. It has observed as much of the firm's internal functioning and technology as it can legally, yet Gamma cannot understand why Ardent has a competitive advantage over it. Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following?
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