WPC 470 Quiz 1, CH3,CH5,CH8, CH10 QUESTIONS
Q1
.A major department store chain has a strict policy of banning photographs or videos of
its sales floor or back-room operations. It also does not allow academics to conduct
studies of it for publication in research journals. In fact, some of its own top managers
refer to the management's policies on secrecy as "verging on paranoid." These policies
indicate that the top management of the firm believes the organization's core
competencies are: - Answer -imitable.
A financial management firm has existed for more than 70 years. Some of its original
clients' grandchildren are now clients of the firm themselves. The partners and staff of
the firm have spent most or all of their careers with the firm. Many have even married
into each other's families. This firm has capabilities that would be costly to imitate
primarily because of its: - Answer -social complexity.
Which of the following is NOT a reputational resource? - Answer -Employees' opinions
of their supervisors' fairness
They are:
-Customers' opinions that using the firm's products makes them attractive
-Customers' opinions that the firm's products are high quality
-Suppliers' opinions that the firm pays its bills in a timely manner
Compared to intangible resources, in terms of their value, tangible resources are
__________ constrained because they are __________ to leverage. - Answer -more;
harder
Southwest Airlines has a complex interrelationship between its culture and staff that
adds value in ways that other airlines cannot, such as jokes on flights or the cooperation
between gate personnel and pilots. These examples illustrate which of the following
criteria for sustainable competitive advantage? - Answer -Costly to imitate
If a firm offers a service that is valuable, rare, and costly to imitate, but a substitute
exists for the service, the firm will: - Answer -have a temporary competitive advantage.
The key to achieving competitiveness, earning above-average returns, and remaining
ahead of competitors in the long run is to manage current core competencies: - Answer
-while simultaneously developing new ones.
Which of the following is NOT an external event that reveals the danger of relying on
existing core capabilities? - Answer -A firm changes its focus to a new core
competence.
, The Obama administration expressed a desire to eliminate coal as an energy source,
and introduced regulations to drive the coal industry out of business. The Trump
administration eased regulations on the coal industry, but also took steps to encourage
the development of other forms of energy. In light of this changing regulatory
environment, decision makers in the energy industry are most affected by what
condition? - Answer -Uncertainty
McDonald's culture, with an emphasis on cleanliness, consistency, service, and the
training that reinforces the value of these characteristics, illustrates which of the
following criteria for sustainable competitive advantage? - Answer -Costly to imitate
Which of the following would be categorized as a support function? - Answer -Training
employees
A local restaurant, Farm Fresh Ingredients, has become highly successful through its
menu, based solely on organically raised chicken and beef, and organic seasonal
produce. It has opened new locations in other cities, and these new locations are
becoming highly profitable. Farm Fresh can expect that, at best, its competitive
advantage will be: - Answer -temporary.
All of the following are tangible resources EXCEPT: - Answer -a firm's reputation.
Outsourcing is the: - Answer -purchase of a value-creating activity from an external
supplier.
Charmed by Claire is a successful retail boutique that sells women's accessories.
Claire, the owner/manager, knows that women have many options when buying jewelry.
When customers enter her store, they are greeted by name and given prompt, friendly
attention. Customers return to the store because the service is excellent. Claire says the
most important decision she makes is hiring the best staff because customer service is
vital to her business. Customer service is a(n): - Answer -core competency.
CH3
3 .Goldner Inc headquartered in Louisastad has been highly profitable in the past 9
years, providing its investors higher returns than those earned by its direct competitors
investors. Goldner Inc has a reputation for providing high paying managerial and hourly
employee jobs. however, recent investigations have revealed that the nursing home
residence have been provided substandard care, including non-nutritious and
unappetizing meals, non-functional medical equipment, and inadequate patient care
staffing. which of the following statements best describes the situation? - Answer -none
of the above
Liliana Doyle is a hedge fund manager who owned a large share (25%) of Carroll Co
stock. he was also a member of the Carroll Co board. he tried to get the CFO fired, but
the board and top management said he breached his boardroom duties when he
publicly disclosed information about the CFO search and financial condition of the
company. he resigned from the board of directors. this is an example of contentious
Q1
.A major department store chain has a strict policy of banning photographs or videos of
its sales floor or back-room operations. It also does not allow academics to conduct
studies of it for publication in research journals. In fact, some of its own top managers
refer to the management's policies on secrecy as "verging on paranoid." These policies
indicate that the top management of the firm believes the organization's core
competencies are: - Answer -imitable.
A financial management firm has existed for more than 70 years. Some of its original
clients' grandchildren are now clients of the firm themselves. The partners and staff of
the firm have spent most or all of their careers with the firm. Many have even married
into each other's families. This firm has capabilities that would be costly to imitate
primarily because of its: - Answer -social complexity.
Which of the following is NOT a reputational resource? - Answer -Employees' opinions
of their supervisors' fairness
They are:
-Customers' opinions that using the firm's products makes them attractive
-Customers' opinions that the firm's products are high quality
-Suppliers' opinions that the firm pays its bills in a timely manner
Compared to intangible resources, in terms of their value, tangible resources are
__________ constrained because they are __________ to leverage. - Answer -more;
harder
Southwest Airlines has a complex interrelationship between its culture and staff that
adds value in ways that other airlines cannot, such as jokes on flights or the cooperation
between gate personnel and pilots. These examples illustrate which of the following
criteria for sustainable competitive advantage? - Answer -Costly to imitate
If a firm offers a service that is valuable, rare, and costly to imitate, but a substitute
exists for the service, the firm will: - Answer -have a temporary competitive advantage.
The key to achieving competitiveness, earning above-average returns, and remaining
ahead of competitors in the long run is to manage current core competencies: - Answer
-while simultaneously developing new ones.
Which of the following is NOT an external event that reveals the danger of relying on
existing core capabilities? - Answer -A firm changes its focus to a new core
competence.
, The Obama administration expressed a desire to eliminate coal as an energy source,
and introduced regulations to drive the coal industry out of business. The Trump
administration eased regulations on the coal industry, but also took steps to encourage
the development of other forms of energy. In light of this changing regulatory
environment, decision makers in the energy industry are most affected by what
condition? - Answer -Uncertainty
McDonald's culture, with an emphasis on cleanliness, consistency, service, and the
training that reinforces the value of these characteristics, illustrates which of the
following criteria for sustainable competitive advantage? - Answer -Costly to imitate
Which of the following would be categorized as a support function? - Answer -Training
employees
A local restaurant, Farm Fresh Ingredients, has become highly successful through its
menu, based solely on organically raised chicken and beef, and organic seasonal
produce. It has opened new locations in other cities, and these new locations are
becoming highly profitable. Farm Fresh can expect that, at best, its competitive
advantage will be: - Answer -temporary.
All of the following are tangible resources EXCEPT: - Answer -a firm's reputation.
Outsourcing is the: - Answer -purchase of a value-creating activity from an external
supplier.
Charmed by Claire is a successful retail boutique that sells women's accessories.
Claire, the owner/manager, knows that women have many options when buying jewelry.
When customers enter her store, they are greeted by name and given prompt, friendly
attention. Customers return to the store because the service is excellent. Claire says the
most important decision she makes is hiring the best staff because customer service is
vital to her business. Customer service is a(n): - Answer -core competency.
CH3
3 .Goldner Inc headquartered in Louisastad has been highly profitable in the past 9
years, providing its investors higher returns than those earned by its direct competitors
investors. Goldner Inc has a reputation for providing high paying managerial and hourly
employee jobs. however, recent investigations have revealed that the nursing home
residence have been provided substandard care, including non-nutritious and
unappetizing meals, non-functional medical equipment, and inadequate patient care
staffing. which of the following statements best describes the situation? - Answer -none
of the above
Liliana Doyle is a hedge fund manager who owned a large share (25%) of Carroll Co
stock. he was also a member of the Carroll Co board. he tried to get the CFO fired, but
the board and top management said he breached his boardroom duties when he
publicly disclosed information about the CFO search and financial condition of the
company. he resigned from the board of directors. this is an example of contentious
