a firm's tangible resource includes which of the following?

Consider the market for minivans. 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. Resource-based theory contends that the possession of strategic resources provides an organization with a golden opportunity to develop competitive advantages over its rivals (Table 4.1). Low entry barriers C) rare, valuable, inimitable, nonsubstitutable. Which of the following would be most difficult to assess? Strategy is a pattern of resource allocation choices and organizational arrangements that result frommanagerial decision making. For firms such as Walgreen Co. (a chain of drugstores), information systems have been a source of competitive advantage by enabling them to. Capabilities are another key concept within resource-based theory. Cropped. ___________ are associated with collecting, storing, and distributing the product or service to buyers. ~~~~~\text{Newspapers. ~~~~~\text{Emergency fund} & & 50.00 & 50.00\\ To capture more consumers They consist of warehousing, material handling, delivery operation, order processing, and scheduling. D) the industry and the competitive environment. The particular bundles of resources and capabilities that provide unique advantages to the, Core competencies are resources and capabilities that serve as a source of a firms. Power of stockholders 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. Competitors have a hard time duplicating resources that are difficult to imitate. Knowledge b. A firm's tangible resource includes which of the following? Because of this unusual history, other airlines could not replicate Southwests culture, regardless of how hard they might try. B) culture, tangible resources, intangible resources. Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. 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. The intensity of industry competition and an industry's profit potential are a function of which of the following forces of competition? Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations? In contrast, intangible resources are quite difficult to see, to touch, or to quantify. The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above-average returns includes all of the following EXCEPT: a. Figure 4.3: Kindred Grey (2020). A) interrelationships among functional areas and firm strategies. : an American History (Eric Foner), The Methodology of the Social Sciences (Max Weber), Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham). 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. Firm resources and sustained competitive advantage. Satisfying only one or two of the valuable, rare, difficult-to-imitate, organized to capture value criteria will likely only lead to competitive parity or a temporary advantage. 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} Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following? A) By employing JIT inventory systems, Hewlett Packard has been able to cut lead time from five days to one. A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics. B. Transcribed image text: 5. than firms pursing a cost leader strategy. Tangible resources are resources that can be readily seen, touched, and quantified. Capabilities are needed to bundle, to manage, and otherwise to exploit resources in a manner that provides added value to customers and creates advantages over competitors. Intangible resources include, for example, the knowledge and skills of employees, a firms reputation, and a firms culture. B, a. The industry characteristics that make it very difficult for firms to achieve strategic competitivenessand earn above-average returns includes all of the following EXCEPT: b. O - The best strategies, corporate and business, are based on a thorough SWOT analysis, The intensity of industry competition and an industrys profit potential are a function of which of the following forces of competition? B) psychographic uniqueness, path dependency, causal ambiguity, and substitutability. Which of the following lists consists of support activities: A) human resource management, technology development, customer service, and procurement, B) human resource management, customer service, marketing and sales, and operations, C) human resource management, information systems, procurement, and firm infrastructure, D) customer service, information systems, technology development, and procurement, Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. This worked, A number of things organizations can do prior to change to prepare employees include which of the following? A clothing manufacturing plant in Cambodia produces pants and shirts for a European clothing designer, distributor, and retailer. The evaluation occurs within the industry of the firm being evaluated. D) supports mostly support activities but does have some impact on primary activities. Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. Design and emergence strategies involve specific levels of the organization. Which of the following is an example of innovation resources? Option D is the right choice here. It depends on the culture and structure of the organization. If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will B) the interrelationships among the primary activities of the firm and corporate management. The best measure of a company's ability to meet imminent financial obligations is known as the. This video is the song That Thing You Do! by the Wonders. A firm's tangible resource includes which of the following? D. T or F & &\text{Amount}& \text{Amount}\\ D) tangible resources, intangible resources, and top management. When the talent show audience goes crazy in response, it marks the beginning of a meteoric rise for both the song and the band. C) tangible resources, intangible resources, and organizational capabilities. B) the legitimacy and reputation of a firm, D) the efficiency with which a firm utilizes its assets. EXPENDITURESFORTHEMONTHOFJULY, ActualAmountAmountExpensesBudgetedSpentFood$160.00$175.70HouseholdElectricbill45.0044.35Telephonebill35.0041.20Heatingfuel50.0015.00Waterbill24.5031.70CableTVbill25.0025.00TransportationGasolinepurchases85.00101.70Parking/tolls15.0015.00PersonalClothing40.0031.75Creditpayments50.0041.74Newspapers. 11.-. When a company's resources are valuable but not rare, the company is said to have which element? It. Firms often bundle together multiple resources and strategies (that may not be unique in and of themselves) to create uniquely powerful combinations. As water becomes more and more rare, landowners in Maine stand to benefit. The key to using the Resource Based View is to evaluate a firms resources and capabilities using the VRIO framework decision tree. 6/28/2017 Chapter 5 Quiz: MAN3025 RVEB 1175 4 / 4 ptsQuestion 6 In the value chain, which of the following activities is deemed to add direct value to a firm? Review the material in Chapter 20 and respond to the following: Discuss the modern quantity theory and the liquidity preference theory. 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. C) Every organization has a routine that it follows for its procedures and processes. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. Intangible resources are quite difficult to see, touch, or quantify. Imagine that a U.S. car manufacturer builds a plant in Mexico, where labor is cheaper. Another is guitarist Lenny Haise, whose fun attitude reigns in the enigmatic Mattingly. : an American History (Eric Foner), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), Educational Research: Competencies for Analysis and Applications (Gay L. 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Threats posed by new entrants Which of the following is not an advantage of Just-In-Time inventory systems? Which of the following is a support activity? (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. 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. Want to create or adapt books like this? You can view this video here: https://youtu.be/BJn-Jl2ZeQU. False 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . Course Hero is not sponsored or endorsed by any college or university. In determining stakeholders who should be consulted as strategy is developed, companies often develop an incomplete list. C) rare, valuable, inimitable, nonsubstitutable, B) in periods of recession or economic boom. If yes, then Southwests culture is providing a sustained competitive advantage. The components are then shipped back to the United States, where each complete car is assembled. Option C is also incorrect here. How do management and employee self-service portals improve organizational efficiency? A) Knowledge. Verified answer. \end{array} These two building blocks are tightly linkedcapabilities from using resources over time. [Video]. ~~~~~\text{Furniture} & & 125.00 & 125.00\\ d.Knowledge Question 10 For a differentiation strategy to be effective, the product . B) the key emphasis on customer satisfaction and financial goals are only a means to that end. D) if the firm's stock is publicly traded. If we assume an increase in Investments by 100 units, please calculate again the IS-LM functions.c. Southwest Airliness culture provides the firm with uniquely strong employee relations in an industry where strikes, layoffs, and poor morale are common. Resource-based theory can be confusing because the term resources is used in many different ways within everyday common language. Figure 4.2: Planephotoman. Captures how vision and mission will be achieved. B) need to maintain the reputation of the company. 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. C) marketing expertise increasing a firm's revenues and enabling it to enter new markets. DIFFICULT-TO-IMITATE resources often involve legally protected intellectual property such as trademarks, patents, or copyrights. 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. B. 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. While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is: Strategic focus. B) rare, inimitable, physically unique, nonsubstitutable. c. Conglomerate diversification Major cities in hot climates such as Las Vegas, Los Angeles, and Atlanta are confronted by dramatically shrinking water supplies. This may provide bargaining power for the firm in the marketplace. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? Coca-Cola has an uncanny knack for building new brands and products as the soft-drink market evolves. Recruitment c. Service d. Procurement c; Medium Trading in strategic resources: Necessary conditions, transaction cost problems, and choice of exchange structure. a. a. Acknowledged by top management Industry characteristics of an attractive industry, one where firms may achieve strategiccompetitiveness and earn above-average returns includes which of the following? Knowledge Capacity for innovation Organizational routines Production equipment. In value chain analysis, the activities of an organization are divided into two major categories of value activities: primary and support. Do firm resources and capabilities add value? b. c. Leading Recently, shareholders have been vocal about the importance of products made in the US. 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. A companys value derives not from things, but from ____________. That Thing You Do! ~~~~~\text{Car registration} & &4.33 & 0\\ What kind of competitive advantage, if any, does this capability provide? True What will happen to bond prices if terrorism ended and the world's nations unilaterally disarmed and adopted free trade policies? 2) Product quality. It does not help or hurt Southwest competitively. Learn More. Which of the following is a primary activity? C) financial analysis and stakeholder perspectives. : D) Production equipment. It is important to note that the concept of strategy is relevant to only large, public companies likeGE. It is an intangible part of the company. \text{Personal}\\ Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. Strategic Planning . Despite Mattinglys objections, Guy spontaneously adds an up-tempo beat to a sleepy ballad called That Thing You Do! during a local talent contest. Low cost RARE resources are those held by few or no other competitors. The CEO decides to move the firm's textile manufacturing back to the US to capitalize on the increasing pressure from shareholders to process textiles in the US. This customer loyalty is why many passengers choose Southwest over other airlines. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ The resource-based view (RBV) of the firm combines two perspectives: A) the primary and support activities of the firm. While resources refer to what an organization owns, capabilities refer to what the organization can do. A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. A firms tangible resource includes which of the following? ~~~~~\text{Savings} & & 100.00 & 100.00\\ Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. Southwest is a rags to riches story that has evolved across several decades. Planning Which of the following is considered an intangible resource? O - Strategy formulation is an essential component of the POLC framework: This too is intangible in nature, making Option B an incorrect choice. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Strategy formulation answers the question. Complete the following statements using either "debit" or "credit": (b) The owner's capital account is increased with a _________. Build the IS-LM function.b. For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Select one: a. Every organization has stakeholders. The intersection of IS-LM functions defines four areas. See Page 1. ~~~~~\text{Heating fuel} & & 50.00 & 15.00\\

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