Business 4940 Exam Questions with Correct Answers 100% Verified by Experts| 2025/2026
Latest Update
Resources are the primary building blocks of an organization
What is the sequence Resources, capabilities, competencies
Tangible Resources: Assets that can be observed ('touched') and/or quantified
Intangible Resources Assets that are usually rooted deeply in the firm's history, usually tied
to its people, and usually take a longer time to develop difficult to imitate
Tangible recourses examples. Production equipment, manufacturing facilities, distribution
centers, organization charts,
cash (quantifiable), office building leases (quantifiable)
intangible Resources examples Corporate culture, network of relationships with
stakeholders, brand reputation, scientific
capabilities, trust between management and employees
Capabilities ability to combine resources, tangible and/or intangible, to create something
that is valuable to the organization doesn't mean good at something
Competency defined as "having the necessary knowledge or skill to do something
successfully.
Four Basic Types
of Competencies Incompetencies, Deficiencies, Core Competencies, Distinctive
Competencies
, Incompetencies You're not very good at something
Deficiences Good at something but someone is better
Core competencies Good at something but are equal to competition
Distinctive Competencies You're good at something and better then the rest
Incompetencies leads to? Rapid Failure
Deficiencies leads to? Competitive disadvantage
Core Competencies leads to? Competitive Parity
Distinctive Competencies leads to? Competitive Advantage
Value Chain A representation of the sequential steps involved in producing goods
(and services), starting with raw materials and ending with the delivered product.
Primary Activities in a value chain Logistics, Operations, Marketing, Sales, Customer Service,
Manufacturing
Support Activities of a value chain Finance, HR, Leasing, Information systems, Risk
management, Contract Managment
Scholar for VRIS Jay Barney
Latest Update
Resources are the primary building blocks of an organization
What is the sequence Resources, capabilities, competencies
Tangible Resources: Assets that can be observed ('touched') and/or quantified
Intangible Resources Assets that are usually rooted deeply in the firm's history, usually tied
to its people, and usually take a longer time to develop difficult to imitate
Tangible recourses examples. Production equipment, manufacturing facilities, distribution
centers, organization charts,
cash (quantifiable), office building leases (quantifiable)
intangible Resources examples Corporate culture, network of relationships with
stakeholders, brand reputation, scientific
capabilities, trust between management and employees
Capabilities ability to combine resources, tangible and/or intangible, to create something
that is valuable to the organization doesn't mean good at something
Competency defined as "having the necessary knowledge or skill to do something
successfully.
Four Basic Types
of Competencies Incompetencies, Deficiencies, Core Competencies, Distinctive
Competencies
, Incompetencies You're not very good at something
Deficiences Good at something but someone is better
Core competencies Good at something but are equal to competition
Distinctive Competencies You're good at something and better then the rest
Incompetencies leads to? Rapid Failure
Deficiencies leads to? Competitive disadvantage
Core Competencies leads to? Competitive Parity
Distinctive Competencies leads to? Competitive Advantage
Value Chain A representation of the sequential steps involved in producing goods
(and services), starting with raw materials and ending with the delivered product.
Primary Activities in a value chain Logistics, Operations, Marketing, Sales, Customer Service,
Manufacturing
Support Activities of a value chain Finance, HR, Leasing, Information systems, Risk
management, Contract Managment
Scholar for VRIS Jay Barney
