Exam 4: Evaluating a Companys Resources and Competitive Position

A) improved employee training programs, new marketing promotions, or technological enhancements to production processes.
B) the development of a new business strategy that draws upon existing resource strengths.
C) extensive strategic planning and resource identification sessions involving managers at all levels of the organization.
D) bundled resources that enable superior performance of cross-functional capabilities that can be leveraged to support its business model and strategy.
E) devising clever approaches to turning resource weaknesses into resource strengths.

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A) whether the company is located all over the globe.
B) whether the company's key success factors are more dominant than the key success factors of close rivals.
C) whether the company has the industry's most efficient and effective value chain.
D) what the company's resource strengths and weaknesses are in relation to the market opportunities and external threats.
E) what new acquisitions the company would be well advised to make in order to strengthen its financial performance and overall balance sheet position.

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A) SCIR test, which asks if a resource is sustainable, competitive, internalized, and reproducible.
B) competitive advantage sustainable method test.
C) reliability resources simulation.
D) VRIN test, which asks if a resource is valuable, rare, inimitable, and non-substitutable.
E) organizational capability metric analysis.

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A) a market opportunity.
B) an environmental threat.
C) the capacity of a firm to competently perform some internal activity.
D) a competitive deficiency.
E) deployed to develop and enable a firm's capabilities.

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A) It entails drawing upon the results and conclusions from analyzing the company's external environment.
B) It entails drawing on the results and conclusions from evaluating the company's own resources and competitive position.
C) It entails developing a "worry list" of "how to.....," "whether to....," and "what to do about.....".
D) Identifying the strategic issues and problems that the company faces is the first thing that company managers need to do before starting to analyze the company's internal and external environment.
E) Developing a list of issues and problems that management need to address (and to resolve) should always precede deciding upon a strategy and what actions to take to improve the company's position and prospects.

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D

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A core competence is a proficiently perf...

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A) a dynamic capability.
B) a core competence.
C) a distinct competence.
D) a strategic assessment.
E) a benchmarking exercise.

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A best practice is a method of performin...

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A) human assets and intellectual capital
B) technological assets
C) brand, image, and reputation
D) relationships
E) company culture

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A) 100 percent.
B) 1.00.
C) 10.
D) 100.
E) 1000.

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A) assist the strategic planning team in overall direction.
B) sustain complex manufacturing systems as a strategic recall.
C) sustain its competitiveness and help drive improvements in its performance.
D) sustain benefits of high market share as an interest in growth strategies.
E) transform knowledge into a management style supporting competition in a globally diverse world.

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C

A) which weaknesses and vulnerabilities of competitors the company might be able to attack successfully.
B) which competitors are in profitable strategic groups and which competitors are in unprofitable strategic groups.
C) which competitors are employing offensive strategies and which competitors are employing defensive strategies.
D) which competitors are likely to make money and which are likely to lose money in the years ahead.
E) what the industry's key success factors are.

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A

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The VRIN tests for sustainable competiti...

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A) factors on which a company is competitively strongest and weakest vis-à-vis key rivals
B) whether a company should correct its weaknesses by adopting best practices and/or revamping the makeup of its value chain
C) which of the rated companies is competitively strongest and what size competitive advantage it enjoys
D) whether a company has a net competitive advantage or a net competitive disadvantage relative to key rivals (with the size of the advantage/disadvantage being indicated by the differences among the companies' competitive strength scores)
E) which rival company is competitively weakest and the areas where it is most vulnerable to competitive attack

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A) pinpointing the company's competitive assets and pinpointing its competitive liabilities.
B) identifying the company's resource strengths and identifying the company's best market opportunities.
C) identifying the external threats to a company's future profitability and pinpointing how many market opportunities it has.
D) drawing conclusions from the SWOT listings about the company's overall situation and translating these conclusions into strategic actions to better match the company's strategy to its resource strengths and market opportunities, correct the important weaknesses, and defend against external threats.
E) making accurate lists of the company's strengths, weaknesses, opportunities, and threats and then using these lists as a basis for ascertaining how well the company's strategy is working.

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A) it provides a more accurate assessment of the strength of competitive forces.
B) it eliminates the bias introduced for those firms having large market shares.
C) the different measures of competitive strength are unlikely to be equally important.
D) the results provide a more reliable measure of what competitive moves rivals are likely to make next.
E) weighting each company's overall competitive strength by the size of its market share produces a more accurate measure of its true competitive strength.

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A) is a way to measure whether a company's value chain is longer or shorter than the chains of key rivals.
B) is a tool for benchmarking whether a firm's strategy is closely matched to industry key success factors.
C) reveals whether a company is competitively stronger than its closest rivals.
D) provides a good basis for crafting a strategy.
E) identifies the reasons a company's strategy is or is not working very well.

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A) be hard to copy, be rare and something rivals lack, be competitively valuable, and not be easily trumped by substitute resource strengths possessed by rivals.
B) be something that a company does internally rather than in collaborative arrangements with outsiders.
C) be patentable.
D) bean industry key success factor and occupy a prime position in the company's value chain.
E) have the potential for lowering the firm's unit costs.

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