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Exam 3: Assessing the Internal Environment of the Firm

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Question 71

Multiple Choice

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A crash R&D program by one firm cannot replicate a successful technology developed by another firm,when research findings cumulate.This is an example of

A) social complexity.
B) physical uniqueness.
C) path dependency.
D) causal ambiguity.

E) A) and D)
F) B) and D)

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Question 72

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For a resource to provide a firm with potential sustainable advantages it must satisfy only two criteria: rareness and difficulty in substitution.

A) True
B) False

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Question 73

Multiple Choice

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Comparing your firm with all other firms in your industry assesses _________ performance.

The SWOT framework is not sufficient as the primary basis for evaluating the internal strengths and weaknesses of a company.

Strong brands are typically built through consistent,effective marketing,and companies need to weigh the potential for misbehaving customers to thwart their careful efforts.

In value-chain analysis,finance and accounting are considered part of the general administration of a firm.

All of the following are examples of socially complex organizational phenomena except

Which of the following lists consists of support activities?

The balanced scorecard enables managers to consider their business from all of the following perspectives except

People want to partner with you because they have heard you are a credible company built through a culture of trust.In a sense,being a great company to work for also makes you a great company to work with.This is an example of causal ambiguity.

Modern plant and facilities as well as favorable manufacturing locations are tangible resources.

Advertising is a __________ activity.Supply of replacement parts is a __________ activity.

Financial analysis provides an accurate way to assess the relative strengths of firms and can be used as a complete guide to study companies.

Trade secrets are intangible resources.

Technip has developed intelligent pipes that can monitor and regulate the temperature throughout an oil pipeline.This is an example of a procurement support activity in the value chain.

Firms that are successful in creating competitive advantages that are sustainable for a period of time do not have to be concerned about profits being retained by employees or managers.

An important implication of the balanced scorecard approach is that

The ability of a firm to do well from an innovation and learning perspective is most dependent on its tangible assets.

In making the decision to enter the pharmaceutical industry,a company would not need to consider which of the following?

Apple Inc.reported revenues of 171 billion USD and net income of 37 billion USD in 2012.These figures represent a stunning annual growth in revenue and net income of 57 percent and 43 percent,respectively,for the 2011 to 2013 time period.This information indicates the importance of using __________ to evaluate company financial performance.