Sevi Exam 1 questions with verified
answers rated A+ updated
Which of the following would be considered part of the general environment of the firm? -
correct answer ✔✔Higher unemployment rates
The effects of the digital economy include which of the following? - correct answer
✔✔Increased asset intensity of business operations
In order to better achieve a competitive advantage, firms must now adopt a holistic approach
towards satisfying multiple stakeholders opposed to focusing on the needs of their
stockholders. This integrative approach is referred to as - correct answer ✔✔Stakeholder
strategy
According to the five Forces model, threat of new entrants is high when - correct answer
✔✔There are low economies of scale
A resource is valuable and rare, but neither difficult to imitate nor without substitutes. This
should enable the firm to attain - correct answer ✔✔A temporary competitive advantage
Emerging sociocultural changes in the environment include - correct answer ✔✔The increasing
educational attainment of women in past decade
Which of the following best represents a customer-oriented vision statement? - correct answer
✔✔We provide solutions for professional communication needs
The three key types of resources that are central to the resource based view of the firm are -
correct answer ✔✔Tangible resources, intangible resources, and organizational capabilities
, Nintendo built a security chip into its game console hardware and then licensed the right to
develop games to outside firms. These firms paid a royalty to Nintendo for each copy of the
games they sold. This is an example of Nintendo using products that are - correct answer
✔✔Complements
Distribution of the final product to customers and advertising are_____ activities in the firms
value chain - correct answer ✔✔Primary
An industry is best described as - correct answer ✔✔Companies that manufacture equipment
and operate factories in the same markets
Management innovations such as total quality, benchmarking, and business process
reengineering cannot lead to sustainable competitive advantage because - correct answer
✔✔many companies are trying to implement them
Gerber Products Co. has built their baby food brand over time. This gives them a resource that
is inimitable because re-creating brand loyalty is likely to be a time consuming process that
competitors would find difficult to expedite: This is an example of inimitability based on -
correct answer ✔✔Social complex
Internal stakeholders of the firm include: - correct answer ✔✔Employees, stockholders, and
board members
Free 2 Roam Inc, an all terrain vehicle company, is the market leader due to its superior engine
technology and service orientation. These unique qualities have helped the company generate
revenues and profit margins that are consistently higher than other firms in the same industry.
Which of the following can be concluded about Free 2 Roam Inc from this scenario? - correct
answer ✔✔It has achieved compettve advantage over the other firms
answers rated A+ updated
Which of the following would be considered part of the general environment of the firm? -
correct answer ✔✔Higher unemployment rates
The effects of the digital economy include which of the following? - correct answer
✔✔Increased asset intensity of business operations
In order to better achieve a competitive advantage, firms must now adopt a holistic approach
towards satisfying multiple stakeholders opposed to focusing on the needs of their
stockholders. This integrative approach is referred to as - correct answer ✔✔Stakeholder
strategy
According to the five Forces model, threat of new entrants is high when - correct answer
✔✔There are low economies of scale
A resource is valuable and rare, but neither difficult to imitate nor without substitutes. This
should enable the firm to attain - correct answer ✔✔A temporary competitive advantage
Emerging sociocultural changes in the environment include - correct answer ✔✔The increasing
educational attainment of women in past decade
Which of the following best represents a customer-oriented vision statement? - correct answer
✔✔We provide solutions for professional communication needs
The three key types of resources that are central to the resource based view of the firm are -
correct answer ✔✔Tangible resources, intangible resources, and organizational capabilities
, Nintendo built a security chip into its game console hardware and then licensed the right to
develop games to outside firms. These firms paid a royalty to Nintendo for each copy of the
games they sold. This is an example of Nintendo using products that are - correct answer
✔✔Complements
Distribution of the final product to customers and advertising are_____ activities in the firms
value chain - correct answer ✔✔Primary
An industry is best described as - correct answer ✔✔Companies that manufacture equipment
and operate factories in the same markets
Management innovations such as total quality, benchmarking, and business process
reengineering cannot lead to sustainable competitive advantage because - correct answer
✔✔many companies are trying to implement them
Gerber Products Co. has built their baby food brand over time. This gives them a resource that
is inimitable because re-creating brand loyalty is likely to be a time consuming process that
competitors would find difficult to expedite: This is an example of inimitability based on -
correct answer ✔✔Social complex
Internal stakeholders of the firm include: - correct answer ✔✔Employees, stockholders, and
board members
Free 2 Roam Inc, an all terrain vehicle company, is the market leader due to its superior engine
technology and service orientation. These unique qualities have helped the company generate
revenues and profit margins that are consistently higher than other firms in the same industry.
Which of the following can be concluded about Free 2 Roam Inc from this scenario? - correct
answer ✔✔It has achieved compettve advantage over the other firms
