One key reason for their success is a legendary organizational culture that inspires employees to do their very best. c. To build a portfolio of businesses much like a portfolio of stock 3) Unique style. The evaluation occurs within the industry of the firm being evaluated. A firm's strategy includes which of the following? Southwest Airlines Boeing 737 Lonestar One (N352SW) at LAS in November 2005. CC BY 2.0. c. Gobal economic conditions Experts are tested by Chegg as specialists in their subject area. C) repairing the product for the consumer, D) monitoring the cost of producing the product through a cost accounting system. A) supports only individual primary activities. False D) Production equipment can be considered an asset or resource of a company that is physical in nature and can be measured, making it a tangible resource. C) National Steel improved its efficiency by consolidating, reducing the number of job classifications, and broadening worker responsibilities. What was the result? Choose one of the companies below and identify three key stakeholders. Competitors have a hard time duplicating resources that are difficult to imitate. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ 1.3 Intended, Emergent, and Realized Strategies, 1.5 Contemporary Critique of Strategic Management, 1.6 Understanding the Strategic Management Process, 3.2 The Relationship between an Organization and its Environment, 4.4 Intellectual Property & Isolating Mechanisms, 6.2 Understanding Business-Level Strategy through "Generic Strategies", 6.5 Focused Cost Leadership and Focused Differentation, 7.6 Responding to Innovation in the Market, 8.6 Portfolio Planning and Corporate-Level Strategy, 9.2 Advantages and Disadvantages of Competing in International Markets, 9.5 Drivers of Success and Failure When Competing in International Markets, 9.6 Options for Competing in International Markets, 10.3 The Basic Building Blocks of Organizational Structure, 10.4 Creating an Organizational Structure, 10.5 Creating Organizational Control Systems, 11.4 Corporate Ethics and Social Responsibility, 11.5 Contemporary Questions of Corporate Ethics. ~~~~~\text{Credit payments} & & 50.00 & 41.74\\ b. gifts20.0011.65PocketMoney60.0072.00EntertainmentMovies10.005.00Sportingevents/recreation32.0032.00Diningout100.0063.80FixedRent625.00625.00Furniture125.00125.00Savings100.00100.00Emergencyfund50.0050.00Life/carinsurancepremiums132.50132.50Carregistration4.330Pledges/contributions8.330\begin{array}{l c r r} Low cost Review the material in Chapter 20 and respond to the following: Discuss the modern quantity theory and the liquidity preference theory. Chapter 3 Flashcards | Chegg.com The tangibility of a firms resources is an important consideration within resource-based theory. Superiority in competitive advantage refers to all of the following factors EXCEPT: Where does strategy formulation fit within the POLC framework? & & &\text{Actual}\\ B, a. It depends on the culture and structure of the organization. Threats posed by new entrants O - Strategy formulation is an essential component of the POLC framework: & &\text{Amount}& \text{Amount}\\ What tangible and intangible resources does your favorite restaurant have that might give it a competitive advantage? Instead, capabilities are needed to bundle, to manage, and otherwise to exploit resources in a manner that provides value added to customers and creates advantages over competitors. Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations? Is Southwests culture rare within the airline industry? D) Wal-Mart implemented a sophisticated information system that resulted in reduced inventory carrying costs and shortened customer response times. A companys value derives not from things, but from ____________. Provide employees with HR support in the event they choose to leave the. The best strategies, corporate and business, are based on a thorough SWOT analysis. 12 Test Bank - Gould's Ch. 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . Acknowledged by top management Workers at the Cambodian plant produce the clothing according to the European firm's designs and specifications. Knowledge Capacity for innovation Organizational routines Production equipment. Design and emergence strategies involve specific levels of the organization. Question 5 A firm's tangible resource includes which of the following? If yes, go to number 2. Course Hero is not sponsored or endorsed by any college or university. (review sheet 4), The tenpoint plan of the new world order-1, Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, The text defines stakeholders as: Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does (Carpenter et. Was this amount more or less than the amount they had originally budgeted? Other difficult-to-imitate resources, such as brand names, usually need time to develop fully. Most other airlines do not have this philosophy. What are the degrees of freedom for A firms tangible resource includes which of the following? Which of the following is a primary activity? These competitive advantages in turn can help the organization enjoy strong profits (Barney, 1991; Wernerfelt, 1981). Please analyze the behavior of the markets for goods and money for each area.Cite references to material that you use in preparing the essay. In working through the decision tree, once a no is obtained, there is no need to continue through the tree. d. Top-down process A. ~~~~~\text{Parking/tolls} & & 15.00 & 15.00\\[10pt] a. Choose question tag. Planning A resource is valuable to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats. Want to create or adapt books like this? ORGANIZED TO CAPTURE VALUE: Having in place the organizational systems, processes, and structure to capitalize on the potential of the resources and capabilities of the firm to provide a competitive advantage. \text{EXPENDITURES FOR THE MONTH OF JULY} A firm's tangible resource includes which of the following? Centralized decisions Industry characteristics of an attractive industry, one where firms may achieve strategiccompetitiveness and earn above-average returns includes which of the following? Organizational routines d. Production equipmentd; Easy (Comprehension) 3. This customer loyalty is why many passengers choose Southwest over other airlines. A crash R&D program by one firm cannot replicate a successful technology developed by another firm when research findings cumulate. The resource-based view includes all except which of the following regarding managers? Superiority in competitive advantage refers to all of the following factors: 1) Customer service. 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) the key emphasis on customer satisfaction and financial goals are only a means to that end. ~~~~~\text{Cable TV bill} & & 25.00 & 25.00\\[10pt] ~~~~~\text{Rent} & & 625.00 & 625.00\\ B) financial resources, physical resources, and the capacity to combine intangible resources. Selected Answer: a.Production equipment Answers: a.Production equipment b.Organizational routines c.Capacity for innovation 4 out of 4 points4 out of 4 points 4 out of 4 points 4 out of 4 points. Question 5 a firms tangible resource includes which - Course Hero C. "Afirm's reputation D. Afirm's headquarters building. A resource or capability is said to be ____________ if it allows the firm to exploit. C) Compare the financial ratios of all firms in the country's industrysome of whom serve very diverse market segments and have specialized accordingly. 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. Suppliers and buyers with little bargaining power A firms strategy includes which of the following? b. Transcribed image text: 5. Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. False B) culture, tangible resources, intangible resources. (1991). Strategy formulation is essentially the aim of the organizing, leading, and controlling components ofthe POLC framework BUS 1101 Ch. 5 Flashcards | Quizlet \end{array} It is important to distinguish strategic resources from other resources. Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. Coca-Cola, for example, has an uncanny knack for building new brands and products as the soft drink market evolves. the K-W test? Those resources and capabilities that provide a significant competitive advantage are referred to as what? Such competitive advantages are based upon. A) Knowledge. d. To spread out risk and opportunities over a larger set of businesses A) KnowledgeB) Capacity for innovationC) Organizational routinesD) Production equipment. Which of the following is not one of these attributes: For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have the following four attributes. a. VALUABLE resources aid in improving the organizations effectiveness and efficiency while neutralizing the opportunities and threats of competitors. a. If yes, go to number 4. than firms pursing a cost leader strategy. 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. Trading in strategic resources: Necessary conditions, transaction cost problems, and choice of exchange structure.

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