WPC 480 Exam #2 Questions and Answers

WPC 480 Exam #2 Questions and
Answers

core iicompetencies ii- iiAnswers ii-unique iistrengths, iiembedded iideep iiwithin iia iifirm, iithat
iiare iicritical iito iigaining iiand iisustaining iicomp iiadv


resources ii- iiAnswers ii-any iiassets iithat iia iifirm iican iidraw iion iiwhen iiformulating iiand
iiimplementing iia iistrategy


capabilities ii- iiAnswers ii-Organizational iiand iimanagerial iiskills iinecessary iito
iiorchestrate iia iidiverse iiset iiof iiresources iiand iideploy iithem iistrategically


activities ii- iiAnswers ii-distinct iiand iifine-grained iibusiness iiprocesses iithat iienables
iifirms iito iiadd iiincremental iivalue iiby iitransforming iiinputs iiinto iigoods iiand iiservices


resource-based iiview ii- iiAnswers ii-a iimodelt iihat iisees iicertain iitypes iiof iiresources iias
iikey iito iisuperior iifirm iiperformance


tangible iiresource ii- iiAnswers ii-resources iithat iihave iiphysical iiattributes iiand iithus iiare
iivisible


intangible iiresource ii- iiAnswers ii-resources iithat iido iinot iihave iiphysical iiattributes iiand
iithus iiare iiinvisible


valuable iiresource ii- iiAnswers ii-One iiof iithe iifour iikey iicriteria iiin iithe iiVRIO iiframework.
iiA iiresource iiis iivaluable iiif iiit iihelps iia iifirm iiexploit iian iiexternal iiopportunity iior iioffset
iian iiexternal iithreat


rare iiresource ii- iiAnswers ii-one iiof iithe iifour iikey iicriteria iiin iithe iiVRIO iiframework. iiA
iiresource iiis iirare iiif iithe iinumber iiof iifirms iithat iipossess iiit iiis iiless iithan iithe iinumber iiof
iifirms iiit iiwould iirequire iito iireach iia iistate iiof iiperfect iicompetition


costly-to-imitate iiresource ii- iiAnswers ii-one iiof iithe iifour iikey iicriteria iiin iithe iiVRIO
iiframework. iiA iiresource iiis iicostly iito iiimitate iiif iifirms iithat iido iinot iipossess iithe
iiresource iiare iiunable iito iidevelop iior iibuy iithe iiresource iiat iia iicomparable iicost.


organized iito iicapture iivalue ii- iiAnswers ii-one iiof iithe iifour iikey iicriteria iiin iithe iiVRIO
iiframework. iiThe iicharacteristic iiof iihaving iiin iiplace iian iieffective iiorganizational
iistructure, iiprocesses, iiand iisystems iito iifully iiexploit iithe iicompetitive iipotential iiof iithe
iifirm's iiresources, iicapabilities, iiand iicompetencies.

, Causal iiambiguity ii- iiAnswers ii-A iisituation iiin iiwhich iithe iicause iiand iieffect iiof iia
iiphenomenon iiare iinot iireadily iiapparent.


Social iicomplexity ii- iiAnswers ii-a iisituation iiin iiwhich iidifferent iisocial iiand iibusiness
iisystems iiinteract iiwith iione iianother


Intellectual iiproperty ii(IP) iiprotection ii- iiAnswers ii-A iicritical iiintangible iiresource iithat
iican iiprovide iia iistrong iiisolating iimechanism, iiand iithus iihelp iito iisustain iia iicompetitive
iiadvantage


Core iirigidity ii- iiAnswers ii-A iiformer iicore iicompetency iithat iiturned iiinto iia iiliability
iibecause iithe iifirm iifailed iito iihone, iirefine, iiand iiupgrade iithe iicompetency iias iithe
iienvironment iichanged


dynamic iicapabilities ii- iiAnswers ii-A iifirms iiability iito iicreate, iideploy, iimodify,
iireconfigure, iiupgrade, iior iileverage iiits iiresources iiin iiits iiquest iifor iicompetitive
iiadvantage


Dynamic iicapabilities iiperspective ii- iiAnswers ii-A iimodel iithat iiemphasizes iia iifirms
iiability iito iimodify iiand iileverage iiits iiresources iibase iiin iiaway iithat iienables iiit iito iigain
iiand iisustain iicompetitive iiadvantage iiin iia iiconstantly iichanging iienvironment


Resource iistocks ii- iiAnswers ii-The iifirst iicurrent iilevel iiof iiintangible iiresources

resources iiflows ii- iiAnswers ii-The iifirms iilevel iiof iiinvestments iito iimaintain iior iibuild iia
iiresource


Value iichain ii- iiAnswers ii-The iiinternal iiactivities iia iif iifirm iiengages iiin iiwhen
iitransforming iiinputs iiinto iioutputs; iieach iiactivity iiadds iiincremental iivalue


primary iiactivités ii- iiAnswers ii-firm iiactivities iithat iiadd iivalue iidirectly iiby iitransforming
iiinputs iiinto iioutputs iias iithe iifirm iimoves iia iiproduct iior iiservice iihorizontally iialong iithe
iiinternal iivalue iichain


Ex: iiSCM, iioperations, iidistribution, iimarketing iiand iisales, iiafter-sales iiservice

support iiactivities ii- iiAnswers ii-Firm iiactivités iithat iiadd iivalue iiindirectly, iibut iiare
iinecessary iito iisustain iiprimary iiactives


Ex: iiR&D, iiInfo iisys, iiHR, iiAccounting iiand iifinance, iiFirm iiinfrastructure iiincluding
iiprocesses, iipolicies, iiand iiprocedures.


Ch. ii5 ii- iiAnswers ii-

Gaining iiand iiSustaining ii- iiAnswers ii-Three iitraditional iiframework:
Accounting iiprofitability ii