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. One resource is lead singer Jimmy Mattingly, who possesses immense musical talent. A) Knowledge. B) the interrelationships among the primary activities of the firm and corporate management. What kind of competitive advantage, if any, does this capability provide? managers should focus exclusively on the current market environment. Examples include all of the following except: A) negotiating and maintaining ongoing relations with regulatory bodies. What is the firm's secret competitive advantage?
Solved 11.- All of the following are tangible resources - Chegg If yes, then Southwests culture is providing a sustained competitive advantage. ExpensesFoodHouseholdElectricbillTelephonebillHeatingfuelWaterbillCableTVbillTransportationGasolinepurchasesParking/tollsPersonalClothingCreditpaymentsNewspapers. Organizing Low cost That Thing You Do! b. See Page 1. C) managers should not look at their job as primarily balancing stakeholder demands; increasing satisfaction among multiple stakeholders can be achieved simultaneously. A useful tool for taking stock of organizational capabilities is the ______________. Physical assets such as a firms property, plant, and equipment, as well as cash, are considered to be tangible resources. Select one: a. Planning Capabilities are important in part because they are how organizations capture the potential value that resources offer. : a. This makes knowledge an intangible resource. Because of this unusual history, other airlines could not replicate Southwests culture, regardless of how hard they might try. giftsPocketMoneyEntertainmentMoviesSportingevents/recreationDiningoutFixedRentFurnitureSavingsEmergencyfundLife/carinsurancepremiumsCarregistrationPledges/contributionsAmountBudgeted$160.0045.0035.0050.0024.5025.0085.0015.0040.0050.0020.0060.0010.0032.00100.00625.00125.00100.0050.00132.504.338.33ActualAmountSpent$175.7044.3541.2015.0031.7025.00101.7015.0031.7541.7411.6572.005.0032.0063.80625.00125.00100.0050.00132.5000. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. The XYZ Corp. is taking advantage of a ____________ system. Cross), Civilization and its Discontents (Sigmund Freud), Psychology (David G. Myers; C. Nathan DeWall), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Give Me Liberty! A firm's strategy includes which of the following? Critical to the forming of competitive advantages, _______________ are often based on, developing, carrying, and exchanging information and knowledge through the firms human. The following are examples of socially complex organizational phenomena except. Provide employees with HR support in the event they choose to leave the. Despite Mattinglys objections, Guy spontaneously adds an up-tempo beat to a sleepy ballad called That Thing You Do! during a local talent contest. Consider the market for minivans. 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. 12 Test Bank - Gould's Ch. B) intangible resources and operational measures. _____________ 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 _____________. B) the legitimacy and reputation of a firm, D) the efficiency with which a firm utilizes its assets. C) the internal analysis of the firm as well as the external analysis of the industry and competitive environment. Intangible resources are quite difficult to see, touch, or quantify. O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? (1991). Resources such as Southwests culture that reflect all four qualitiesvaluable, rare, difficult to imitate, and organized to capture valueare ideal because they can create sustained competitive advantages. Design and emergence strategies involve specific levels of the organization. What are the degrees of freedom for Option D is the right choice here. All Rights Reserved. Southwest Airlines culture fits this standard well. Resource-based theory also stresses the merit of an old saying: the whole is greater than the sum of its parts. D) Compare the financial ratios of firms in the company's strategic group. the K-W test? It depends on the culture and structure of the organization. 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. C) Compare the financial ratios of all firms in the country's industrysome of whom serve very diverse market segments and have specialized accordingly. Was this amount more or less than the amount they had originally budgeted? d. Horizontal diversification Captures how vision and mission will be achieved. D) Production equipment. ~~~~~\text{Life/car insurance premiums} & & 132.50 & 132.50\\ False Please Explain, What is the relationship between enterprise information management and self-service portals? 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. 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. Figure 4.2: Planephotoman. Retrieved from https://commons.wikimedia.org/wiki/File:The_VRIO_Framework_with_numbers.png. Suppliers and buyers with little bargaining power Communicates to stakeholders the hierarchical corporate structure. Knowledge b. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. According to value chain analysis, which of the following would be considered part of a firm's infrastructure? Competitors have a hard time duplicating resources that are difficult to imitate. This video is the song That Thing You Do! by the Wonders. \text{Expenses} & & \text{Budgeted} & \text{Spent}\\[10pt] c. Extensive market research
Firms often bundle together multiple resources and strategies (that may not be unique in and of themselves) to create uniquely powerful combinations. Most airlines struggle to be profitable, but Southwest makes money virtually every year. Capacity for innovation Organizational routines d. Production equipment. Choose question tag. B) Motorola has revised its compensation system to reward employees who learn a variety of skills. Journal of Management, 17, 99120. A) supports only individual primary activities. 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. In a 300-500 word Learning Journal, identify a management principle or method from the course for each of the four functions of management. D) tangible resources, intangible resources, and top management. https://youtu.be/BJn-Jl2ZeQU. Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. Such competitive advantages are based upon. This means that a firm has a unique ability to create new capabilities. A firms tangible resource includes which of the following? All Rights Reserved. earn aboveaverage returns includes all of the following EXCEPT. One key reason for their success is a legendary organizational culture that inspires employees to do their very best. Ans. Design/methodology/approach A cross-sectional survey research design was used in the study. A clothing manufacturing plant in Cambodia produces pants and shirts for a European clothing designer, distributor, and retailer. D) reputation with suppliers and customers. 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. firms that execute the design blueprints provided by western firms. True Strategy is a pattern of resource allocation choices and organizational arrangements that result frommanagerial decision making. b. Thus an organization cannot hope to create an enduring competitive advantage around common resources. B) supports only individual support activities. Cross), The Methodology of the Social Sciences (Max Weber), Civilization and its Discontents (Sigmund Freud), Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Give Me Liberty! This makes knowledge an intangible resource. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. Choose one of the companies below and identify three key stakeholders. Workers at the Cambodian plant produce the clothing according to the European firm's designs and specifications. False b. Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors. Other airlines could not replicate Southwests culture, regardless of how hard they might try, because of Southwests unusual history. D) rare, valuable, physically unique, causally ambiguous. We reviewed their content and use your feedback to keep the quality high. Capabilities are another key concept within resource-based theory. Firm resources and sustained competitive advantage. Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. 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. Capacity for innovation c. Organizational routines d. Production equipment. The evaluation occurs within the industry of the firm being evaluated. Capacity for innovationc. A resource that is valuable and rare but that can be imitated, for example, might provide an edge in the short term, but competitors can eventually overcome such an advantage. 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.
Chapter 3 Flashcards | Chegg.com This too is intangible in nature, making Option B an incorrect choice. One key reason is a legendary organizational culture that inspires employees to do their very best. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Southwest Airlines Boeing 737 Lonestar One (N352SW) at LAS in November 2005. CC BY 2.0. [Video]. This is an example of their. Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. 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. Receive an answer explained step-by-step. A resource that is difficult to imitate, or create ready substitutes for is called, The VRIO criterion that determines whether a resource or capability is the source of, competitive advantage recognized that the firm must have the _______________ capability to. 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. If so, these resources can provide not only a competitive advantage but also a sustained competitive advantageone that will endure over time and help the firm stay successful far into the future. O - Not all organizations need strategies to survive and thrive. ______________ are assets that can be seen and quantified. \end{array} Physical assets such as a firm's property, plant, and equipment, as well as cash, are considered to be tangible resources. It. Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche. Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? Note that the decision tree is used to assess resources and capabilities, NOT a firms products, services, or the firm itself. In the airline industry, is Southwests culture hard to imitate? 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. Superiority in competitive advantage refers to all of the following factors EXCEPT: a. 2020-2023 Quizplus LLC. Which of the following is a support activity? Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. All of the following except which example is a reason that relentless imitation can be a dangerous practice? Transcribed image text: 5. Which of the following is considered an intangible resource? Which of the following is an example of a technological resource? Do you believe most, You work for an organization that has traditionally been very formalized, and managers have had a very broad span of control over direct reports from multiple departments and functions. 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. 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. 2003-2023 Chegg Inc. All rights reserved. Which activity is the least risky candidate for outsourcing? The components are then shipped back to the United States, where each complete car is assembled. b. a process through which unique products that command high prices and high margins gradually lose their ability to do so. The tangibility of a firms resources is an important consideration within resource-based theory. Congratulations on advancing to the final unit of BUS 1101, the opening course in your degree program! This is an example of which concept? All of the following are tangible resources EXCEPT:- A. An effective way to distinguish resources and capabilities is this: resources refer to what an organization owns, capabilities refer to what the organization can do (Table 4.2). Executives who wish to achieve long-term competitive advantages should therefore place a premium on trying to nurture and develop their firms intangible resources.