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C) supports both individual primary and support activities and the entire value chain. Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. Capacity for innovation c. Organizational routines d. Production equipment. Explore our library and get Management Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely, 2020-2023 Quizplus LLC. Advertising is a ______activity. ___________ are associated with collecting, storing, and distributing the product or service to buyers. Not all organizations need strategies to survive and thrive. ~~~~~\text{Emergency fund} & & 50.00 & 50.00\\ The table below presents the output and input levels: Also assume that the per unit cost of capital is $10. A) Organizational strengths may not lead to competitive advantage, B) SWOT's focus on the external environment is too broad and integrative, C) SWOT gives a one-shot view of a moving target, D) SWOT overemphasizes a single dimension of strategy. 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . B) Capacity for innovation. Strategic Management by Reed Kennedy is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted. Which of the following is an example of a technological resource? Figure 4.3: Kindred Grey (2020). The purpose of this paper is to investigate the relative contribution of tangible resource (TR) and intangible resource (IR), and capabilities on firm performance based on the measures of market share, sales turnover and profitability. D) reputation with suppliers and customers. Relatively moderate rivalry, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Design and emergence strategies involve specific levels of the organiz, It is important to note that the concept of strategy is rele. accounting. Production equipment O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? Question 5 A firm's tangible resource includes which of the following? It is important to note that the concept of strategy is relevant to only large, public companies likeGE. In value chain analysis, the activities of an organization are divided into two major categories of value activities: primary and support. This means that a firm has a unique ability to create new capabilities. A firm's strategy includes which of the following: Captures how vision and mission will be achieved, Establishes systems and processes used to implement the goals, Sets specific operating procedures to be followed by front line. A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. Southwests culture arose from its very humble beginnings. firms that execute the design blueprints provided by western firms. See Page 1. On occasion, events in the environment can turn a common resource into a strategic resource. 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. Industry characteristics of an attractive industry, one where firms may achieve strategiccompetitiveness and earn above-average returns includes which of the following? Major cities in hot climates such as Las Vegas, Los Angeles, and Atlanta are confronted by dramatically shrinking water supplies. According to resource-based theory, organizations that own strategic resources have important competitive advantages over organizations that do not. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ B-Strat Ch. 3 Flashcards | Chegg.com True or False Please explain, Artifacts reflecting values of an organization include, The foundation of many capabilities lies in the skills and knowledge of a firm's stockholders A. C) criteria for lease versus purchase decisions. Although not a formal band member, Mattinglys girlfriend Faye provides emotional support to the group and even suggests the groups name. A clothing manufacturing plant in Cambodia produces pants and shirts for a European clothing designer, distributor, and retailer. YouTube. 12.-. C) financial analysis and stakeholder perspectives. & & &\text{Actual}\\ Strategy is a pattern of resource allocation choices and organizational arrangements that result frommanagerial decision making. How do management and employee self-service portals improve organizational efficiency? d. Controlling O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? ~~~~~\text{Car registration} & &4.33 & 0\\ Southwest Airlines, for example, has developed the capability of providing excellent customer service by building on its strong organizational culture. a. illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. ~~~~~\text{Electric bill} & & 45.00 & 44.35\\ Intangible resources include, for example, the knowledge and skills of employees, a firms reputation, brand name, exclusive rights to intellectual property, leadership traits of executives, and a firms culture. Some firms develop a dynamic capability. In determining stakeholders who should be consulted as strategy is developed, companies often develop an incomplete list. Chi, T. (1994). B. Imagine that a U.S. car manufacturer builds a plant in Mexico, where labor is cheaper. (1984). As can be seen from its exceptional organizational performance over many years when compared to other airlines, VRIO shows that company culture is one reason why it is more successful than its competitors. A firms strategy includes which of the following? Intangible resources include, for example, the knowledge and skills of employees, a firms reputation, and a firms culture. A. BUS 1101 - unit 5 self Quiz - A firm's strategy includes - Studocu Competitors have a hard time duplicating resources that are difficult to imitate. d. Top-down process What resistance to the change occurred, if any? If yes, go to number 4. What are original equipment manufacturers (OEMs)? How has Walgreens used its core competencies to provide value to its customers? Note that the decision tree is used to assess resources and capabilities, NOT a firms products, services, or the firm itself. C) marketing expertise increasing a firm's revenues and enabling it to enter new markets. If not, then this resource only provides Southwest competitive parity. B) rare, inimitable, physically unique, nonsubstitutable. Executives who wish to achieve long-term competitive advantages should therefore place a premium on trying to nurture and develop their firms intangible resources. Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. Strategic Planning . Historical comparisons are often misleading. Solved 11.- All of the following are tangible resources - Chegg The industry characteristics that make it very difficult for firms to achieve strategic competitivenessand earn above-average returns includes all of the following EXCEPT: Low cost In the value chain, which of the following activities is deemed to add direct value to a firm? Said differently, a firm that enjoys a dynamic capability is skilled at continually updating its array of capabilities to keep pace with changes in its environment. D) geographic uniqueness, cause dependency, social ambiguity, and path complexity. 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. Congratulations on advancing to the final unit of BUS 1101, the opening course in your degree program! They consist of warehousing, material handling, delivery operation, order processing, and scheduling. In a nod to Southwest Airlines outstanding reputation, the firm ranks eighth in Fortune magazines 2018 list of the Worlds Most Admired Companies.. The best measure of a company's ability to meet imminent financial obligations is known as the. Which of the following would be most difficult to assess? C) managers should not look at their job as primarily balancing stakeholder demands; increasing satisfaction among multiple stakeholders can be achieved simultaneously. Experts are tested by Chegg as specialists in their subject area. In the case of on-time arrival capability, Southwest Airline enjoys a temporary competitive advantage (the third line), but it is not that difficult for rivals to imitate this ability. Power of stockholders While resources refer to what an organization owns, capabilities refer to what the organization can do. How can the members of an organization reach success doing that thing they do? You can view this video here: https://youtu.be/BJn-Jl2ZeQU. A resource is valuable to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats. A firms tangible resource includes which of the following a - Studocu Intangible resources include, for example, the knowledge and skills of employees, a firm's reputation, brand name, exclusive rights . Study with Quizlet and memorize flashcards containing terms like A firm's tangible resource includes which of the following?, A firm's strategy includes which of the following:, T or F: Not all organizations need strategies to survive and thrive. Also assume that the cost of each unit of labor is $50. \text{Food} & & \$160.00 & \$175.70\\ T or F C) tangible resources, intangible resources, and organizational capabilities. ______________ are the competencies or skills that a firm employs to transform inputs into outputs. ~~~~~\text{Gasoline purchases} & & 85.00 & 101.70\\ A useful way to identify a company's resources is to view them as: A. divided into two main categories, tangible and intangible.
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