Strategic Management (Week Two) Quiz
Capabilities and resources have the potential to lead to competitive advantage if they are valuable and unique.
True
False
If an organization possesses a valuable and unique resource, it is always a source of competitive advantage.
True
False
A firm with weak knowledge and learning resources is at risk that its financial resources will also become weak.
True
False
Effective training programs can be a source of competitive advantage.
True
False
An organization’s human resources, physical resources, financial resources, knowledge and learning resources, and general organizational resources are highly interconnected.
True
False
Board members can play important strategic roles in organizations such as providing advice to managers with regard to strategies and strategic direction.
True
False
Board members can play important strategic roles in organizations such as providing advice to managers with regard to strategies and strategic direction.
True
False
€śCaretaker” boards participate actively in organizational decisions.
True
False
Human resource management is a primary activity in the value chain.
True
False
Outbound logistics is a primary activity in the value chain.
True
False
A realized competitive advantage becomes sustainable when:
It is unique, valuable, and based on strong financial resources
It involves all of the functional areas of the organization
It is based on physical assets rather than knowledge
It is based on a resource or capability that is difficult to imitate by competitors and there is no readily available substitute
It is based on the quality of the organization’s products and services
If an organizational capability or resource is valuable and unique, but it is easy to imitate:
It cannot be a source of competitive advantage
It is likely to lead to a sustainable competitive advantage
It is a core competency or capability
It can be a source of competitive advantage for a period of time
None of these is correct
A resource or capability that has led to sustainable competitive advantage for a firm has the following characteristic(s):
It is hard to imitate
Managers are aware of and taking advantage of the potential of the resource or capability
It is unique
It is valuable
All of the above
What are the probable implications of a firm neglecting its knowledge and learning resources?
It will become weaker financially
Its general organizational resources will become weaker
Its physical resources will become weaker
Its human resources will become weaker
All of the above
Which of the following is most likely to be a source of sustainable competitive advantage?
A state-of-the art machine that a firm purchases from a supplier
A new product
A research and development process
A plant design
A new service
Which of the following is least likely to be a source of sustainable competitive advantage?
A unique and valuable relationship with an important stakeholder
A computer program
An organization’s culture
An organization’s reputation
A well-known and respected brand
All of the following resources and capabilities fall within the category of general organizational resources except:
A strong balance sheet
Organizational structure
Organizational culture
Unique stakeholder relationships
A brand name
Which ratio measures a firm’s liquidity?
A. Debt-to-equity
B. Current
C. Return-on-assets
D. Asset turnover
E. None of these
Which ratio measures a firm’s leverage?
Debt-to-equity
Current
Return-on-assets
Asset turnover
None of these
Which group of stakeholders plays an important role in governing the behavior of top managers?
Knowledge retention
Knowledge utilization
Knowledge sharing
Knowledge creation
All of the above
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