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Exam 3: Assessing the Internal Environment of the Firm

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Question 51

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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.
B) culture, tangible resources, intangible resources.
C) tangible resources, intangible resources, and organizational capabilities.
D) tangible resources, intangible resources, and top management.

E) None of the above
F) C) and D)

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Question 52

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Regarding the value-chain concept,the most important interrelationship is between the organization and its

A) board of directors.
B) employees.
C) management.
D) customers.

E) A) and D)
F) A) and C)

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Question 53

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A travel agent adds value by creating an itinerary that includes transportation,accommodations,and activities that are customized to your budget and travel dates.In terms of the value chain analysis,this is an example of a ____________ organization.

Competition among organizations is played out over time.As circumstances,capabilities,and strategies change,_________ techniques do not reveal the dynamics of the competitive environment.

Value-chain analysis assumes that the basic economic purpose of a firm is to create value and it is a useful framework for analyzing the strengths and weaknesses of the firm.

In contrast to __________ interactions,which allow the firm to gain insights on the needs of a particular customer,___________ offers the opportunity to leverage the wisdom of a larger crowd.

Dell lost its competitive advantage by 2009 in part because it placed its efforts on operational excellence to the exclusion of reinvention.

Inbound logistics include

A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

Inbound logistics include all activities associated with transforming inputs into the final product form such as machining,packaging,assembly,equipment,testing,printing,and facility operations.

Patents,copyrights,and trademarks are intangible resources.

In considering the business from the customer perspective using the balanced scorecard,company performance is essential.

Company strengths and weaknesses are tied to its stated goals and objectives.

The total debt ratio is used to measure profitability.

Financial ratio analysis measures the performance of the firm based on all but which of the following?

The current ratio is used to measure long-term solvency.

Which of the following is not a factor that helps to explain the extent to which employees and managers will be able to obtain a proportionately high level of the profits that they generate?

A meaningful ratio analysis need only include how ratios change over time.

The best measure of company ability to meet imminent financial obligations is known as the

Which of the following is a profitability ratio?