MNGT 4800 Test 2 Questions with Correct
Answers
A resource that is valuable and rare but that can be imitated might provide an edge in
the short-term, but competitors can overcome such an advantage eventually.
True
False
True
A distinctive competence is a set of strategic resources that an organization owns.
True
False
False
Cost leaders' emphasis on efficiency makes them vulnerable to price competition from
rivals.
True
False
False
A firm following a differentiation strategy attempts to convince customers to pay a
premium price for its goods or services by providing unique and desirable features.
True
False
True
A firm following the focused cost strategy necessarily charges the lowest prices in the
industry.
, True
False
False
A firm that enjoys a(n) _____ capability is one that is skilled at continually updating its
array of capabilities in order to keep pace with changes in its environment.
Competitive
Distinctive
Strategic
Dynamic
Evolving
Dynamic
_____ provide exclusive rights to the creators of original artistic works such as books,
movies, songs, and screenplays.
Patents
Copyrights
Trademarks
Trade secrets
Inventor rights
Copyrights
The formulation of Pepper's is an example of a(n) _____.
Copyright
Trademark
Trade secret
Answers
A resource that is valuable and rare but that can be imitated might provide an edge in
the short-term, but competitors can overcome such an advantage eventually.
True
False
True
A distinctive competence is a set of strategic resources that an organization owns.
True
False
False
Cost leaders' emphasis on efficiency makes them vulnerable to price competition from
rivals.
True
False
False
A firm following a differentiation strategy attempts to convince customers to pay a
premium price for its goods or services by providing unique and desirable features.
True
False
True
A firm following the focused cost strategy necessarily charges the lowest prices in the
industry.
, True
False
False
A firm that enjoys a(n) _____ capability is one that is skilled at continually updating its
array of capabilities in order to keep pace with changes in its environment.
Competitive
Distinctive
Strategic
Dynamic
Evolving
Dynamic
_____ provide exclusive rights to the creators of original artistic works such as books,
movies, songs, and screenplays.
Patents
Copyrights
Trademarks
Trade secrets
Inventor rights
Copyrights
The formulation of Pepper's is an example of a(n) _____.
Copyright
Trademark
Trade secret
