A US firm has outsources its textile manufacturing to aBangledesh for the last 10 years. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ Experts are tested by Chegg as specialists in their subject area. and more. 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. Which of the following is considered an intangible resource? A) KnowledgeB) Capacity for innovationC) Organizational routinesD) Production equipment. Which of the following is not a reason to understand social complexity? B) culture, tangible resources, intangible resources. ___________ are associated with collecting, storing, and distributing the product or service to buyers. The balanced scorecard provides top managers with a _____________ view of the business, The balanced scorecard developed by Kaplan and Norton helps to integrate. Option C is also incorrect here. It is important to distinguish strategic resources from other resources. b. D) the industry and the competitive environment. How has Walgreens used its core competencies to provide value to its customers? C) marketing expertise increasing a firm's revenues and enabling it to enter new markets. C) tangible resources, intangible resources, and organizational capabilities. A firm's tangible resource includes which of the following? _____________ include assets that are deeply rooted in the firms history and have, The firms capacity to deploy resources that have been purposely integrated to achieve a. desired end state are called _____________. Consider the market for minivans. Resources that can be readily seen, touched, and quantified, such as cash or equipment, Resources that are not physical, like a firms reputation, a patent, or employee knowledge, Resources that provide an organization with an opportunity to develop competitive advantages over its rivals. Ans. \end{array} D) Compare the financial ratios of firms in the company's strategic group. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. B) the cost to the firm of replacing them is high. Resources can be divided into two main types: tangible and intangible. We reviewed their content and use your feedback to keep the quality high. It is important to note that the concept of strategy is relevant to only large, public companies likeGE. 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . d.Knowledge Question 10 For a differentiation strategy to be effective, the product . Southwest Airlines Boeing 737 Lonestar One (N352SW) at LAS in November 2005. CC BY 2.0. EXPENDITURESFORTHEMONTHOFJULY\begin{array}{c} The VRIO tool can be used to determine if resources or capabilities are valuable, rare, difficult-to-imitate, and organized to capture value, and thereby understand what type of competitive advantage they offer to a firm. False Complete the following statements using either "debit" or "credit": (b) The owner's capital account is increased with a _________. Because of this unusual history, other airlines could not replicate Southwests culture, regardless of how hard they might try. An important implication of the balanced scorecard approach is that: A) managers need to recognize tradeoffs in stakeholder demands and realize that such demands represent a zero-sum game in which one stakeholder will gain only at another's loss. Ans. These two building blocks are tightly linkedcapabilities from using resources over time. Resource-based theory can be confusing because the term resources is used in many different ways within everyday common language. Firm resources and sustained competitive advantage. A firms tangible resource includes which of the following? B) the legitimacy and reputation of a firm, D) the efficiency with which a firm utilizes its assets. Such competitive advantages are based upon. A. T or F For the Unit 8 Learning Journal, reflect for a few minutes on the four functions of management: Planning, Organizing, Leading, and Controlling, represented by the acronym P-O-L-C. Course Hero is not sponsored or endorsed by any college or university. Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? B) effective information systems contributing significantly to a firm's overall cost leadership strategy. Threats posed by new entrants (1991). Southwest is a rags to riches story that has evolved across several decades. Advertising is a ______activity. Transcribed image text: 5. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ In comparing the two types of resources, intangible resources are more likely to meet the criteria for strategic resources (i.e., valuable, rare, difficult-to-imitate, and organized to capture value) than are tangible resources. False Congratulations on advancing to the final unit of BUS 1101, the opening course in your degree program! Most other airlines do not have this philosophy. Journal of Management, 17, 99120. ~~~~~\text{Credit payments} & & 50.00 & 41.74\\ In assessing its primary activities, an airline would examine. Cropped. Southwests culture arose from its very humble beginnings. What was the Kujawas total expenditure for the month of July? D) if the firm's stock is publicly traded. Strategic Management Journal, 15(4), 271290. Southwest Airliness culture provides the firm with uniquely strong employee relations in an industry where strikes, layoffs, and poor morale are common. Which of the following is a tangible reource?*. Imagine that a U.S. car manufacturer builds a plant in Mexico, where labor is cheaper. (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. 2) Product quality. To help them develop an environment in which knowledge is widely spread across all, employees, some organizations have created the new upper-level managerial position of. All Rights Reserved. B) rare, inimitable, physically unique, nonsubstitutable. T or F Capabilities are important in part because they are how organizations capture the potential value that resources offer. 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. D) gains in financial performance and customer satisfaction must often come at a cost of employee satisfaction. Which of the following examples demonstrates how successful organizations manage their primary activities? Which of the following is an example of a technological resource? Other difficult-to-imitate resources, such as brand names, usually need time to develop fully. True The balanced scorecard enables managers to consider their business from all of the following perspectives except. B) financial resources, physical resources, and the capacity to combine intangible resources. Suppliers and buyers with little bargaining power C) Organizational routines. B) supports only individual support activities. Resources and capabilities are the basic building blocks that organizations use to create strategies. Which of the following is an example of innovation resources? Want to create or adapt books like this? Capacity for innovation c. Organizational routines d. Production equipment. A firms tangible resource includes which of the following? b. illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. C) Every organization has a routine that it follows for its procedures and processes. False Capabilities tend to arise over time as a firm takes actions that build on its strategic resources. Most airlines struggle to be profitable, but Southwest makes money virtually every year. B) Motorola has revised its compensation system to reward employees who learn a variety of skills. B) psychographic uniqueness, path dependency, causal ambiguity, and substitutability. c. Product quality 3) Unique style. Which of the following is a primary activity? A) physical uniqueness, path dependency, causal ambiguity, and social complexity. D) outstanding customer service, innovativeness of products, and reputation. LegacyRecordingsVEVO. What kind of competitive advantage, if any, does this capability provide? Tangible resources include all except which of the following? What are the degrees of freedom for All Rights Reserved. Which of the following forms of diversification occurs when a firm operates multiple. It is not hard to imagine a day when companies in Maine make huge profits by sending giant trucks filled with water south and west or even by building water pipelines to service arid regions. YouTube. Which of the following is a support activity? A retail chain that sells home entertainment systems, computers, and other electronics is far outselling is competitors based on its innovation processes. This too is intangible in nature, making Option B an incorrect choice. ~~~~~\text{Rent} & & 625.00 & 625.00\\ \text{Fixed} \\ B) minimized idle production facilities and workers. As another example, what about Southwest Airlines capability to arrive on time at a much higher rate than the industry average? Why did it cause this change? The components are then shipped back to the United States, where each complete car is assembled. For example, Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingto create a unique business model whose performance is without peer in the industry. A firm's strategy includes which of the following? 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. According to resource-based theory, organizations that own strategic resources have important competitive advantages over organizations that do not. Capacity for innovation Organizational routines d. Production equipment. C) rare, valuable, inimitable, nonsubstitutable. D) the firm's resources are path dependent. Do any of the resources or capabilities of your favorite restaurant have the four qualities of resources (VRIO) that lead to success as articulated by resource-based theory. Some resources, such as cash and trucks, are not considered to be strategic resources because an organizations competitors can readily acquire them. The resource-based view focuses on which of the following aspects of resources? Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. C) Compare the financial ratios of all firms in the country's industrysome of whom serve very diverse market segments and have specialized accordingly. D. T or F Which activity is the least risky candidate for outsourcing? In the value chain, which of the following activities is deemed to add direct value to a firm? 12.-. a process through which unique products that command high prices and high margins gradually lose their ability to do so. Review the material in Chapter 20 and respond to the following: Discuss the modern quantity theory and the liquidity preference theory. ~~~~~\text{Telephone bill} & & 35.00 & 41.20\\ This is an example of, A variety of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its suppliers and customers. Coca-Cola, for example, has an uncanny knack for building new brands and products as the soft drink market evolves. Production equipment O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? A firm's tangible resource includes which of the following? What are original equipment manufacturers (OEMs)? What is this an example of. C) National Steel improved its efficiency by consolidating, reducing the number of job classifications, and broadening worker responsibilities. These strategic resources can provide the foundation to develop firm capabilities that can lead to superior performance over time. D) reputation with suppliers and customers. Coca-Cola has an uncanny knack for building new brands and products as the soft-drink market evolves. B. It signals the market to competent manufacturing, why it is difficult to identify the actual cause of a firm's successful performance. C) financial resources, physical resources, and technological resources. This means that a firm has a unique ability to create new capabilities. \end{array} ~~~~~\text{Emergency fund} & & 50.00 & 50.00\\ Physical assets such as a firms property, plant, and equipment, as well as cash, are considered to be tangible resources. Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels. Consider how Southwest Airliness organizational culture serves as a strategic resource. A) interrelationships among functional areas and firm strategies. there are several forces for organizational change: workplace demographics, technology, globalization, market conditions, growth, and poor performance. For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Choose question tag. O - Strategy formulation is an essential component of the POLC framework: 11.-. By how much? 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.

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