MBA 705 Module 3 Quiz questions and
answers
Support Activities ✔✔Not directly involved in the evolution of a product but
provide important underlying support for primary activities.
VRIO Framework ✔✔States that a firm can gain and sustain a competitive
advantage only when it has resources that satisfy all required criteria.
Religious View ✔✔When decisions are made based on personal or religious
convictions.
Capabilities ✔✔These are intangible by nature
Trademarks ✔✔Type of Intellectual property
Primary Activities ✔✔Marketing and sales
Steps in VRIO Framework ✔✔Difficult to Imitate
, Procurement ✔✔Process of negotiating for and purchasing raw materials.One of
the two methods of internal evaluation ✔✔Resource-Based View and VRIO
Framework
Intangible Resources ✔✔These are nurtured and developed by firms to achieve
long-term competitive advantage.
Value Chain ✔✔Internal activities a firm engages in when transforming inputs into
outputs to create value for a customer.
Primary Activities ✔✔Service
Adverse Selection ✔✔Inability of shareholders to identify the precise
competencies and personal attributes of top managers when they are hired.
Steps in VRIO Framework ✔✔Valuable
Self-Interest View ✔✔When the benefits of the decision maker(s) should be the
primary considerations.
Resource-Based View (RBV) ✔✔In this view, a firm is assumed to be a unique
bundle of resources, capabilities, and competencies.
answers
Support Activities ✔✔Not directly involved in the evolution of a product but
provide important underlying support for primary activities.
VRIO Framework ✔✔States that a firm can gain and sustain a competitive
advantage only when it has resources that satisfy all required criteria.
Religious View ✔✔When decisions are made based on personal or religious
convictions.
Capabilities ✔✔These are intangible by nature
Trademarks ✔✔Type of Intellectual property
Primary Activities ✔✔Marketing and sales
Steps in VRIO Framework ✔✔Difficult to Imitate
, Procurement ✔✔Process of negotiating for and purchasing raw materials.One of
the two methods of internal evaluation ✔✔Resource-Based View and VRIO
Framework
Intangible Resources ✔✔These are nurtured and developed by firms to achieve
long-term competitive advantage.
Value Chain ✔✔Internal activities a firm engages in when transforming inputs into
outputs to create value for a customer.
Primary Activities ✔✔Service
Adverse Selection ✔✔Inability of shareholders to identify the precise
competencies and personal attributes of top managers when they are hired.
Steps in VRIO Framework ✔✔Valuable
Self-Interest View ✔✔When the benefits of the decision maker(s) should be the
primary considerations.
Resource-Based View (RBV) ✔✔In this view, a firm is assumed to be a unique
bundle of resources, capabilities, and competencies.
