WPC 480 2023 midterm Exam Questions with Complete Solutions

WPC 480 2023 midterm Exam Questions with Complete Solutions All of the following were traditional sources of competitive advantage EXCEPT: a. labor costs. b. access to financial resources. c. protected markets. d. a highly educated labor market. - ANSWER d Customer loyalty programs such as airline frequent flyer miles are an attempt to: a. decrease competitors' access to distribution channels. b. develop a cost advantage independent of scale. c. increase customers' switching costs. d. overcome the perishability of the hotel "product." - ANSWER c. increase customers' switching costs A cost leadership strategy provides goods or services with features that are: a-acceptable. b-unique. c-substandard. d-mediocre. - ANSWER a-acceptable Valuable capabilities allow the firm to: a. exploit opportunities in its external environment. b. neutralize threats in its internal environment. c. exploit opportunities or neutralize threats in its external environment. d. neutralize opportunities in its internal environment. - ANSWER c- exploit opportunities or neutralize threats in its external environment 6. Organizational stakeholders include: a. unions. b. host communities. c. employees. d. suppliers of capital. - ANSWER c- employees Competitive rivalry has more effect on a firm's __________ strategies than the firm's other strategies. a. business-level b. corporate-level c. acquisition d. international - ANSWER a- business level Capabilities that other firms cannot develop easily are classified as: a. costly to imitate. b. rare. c. valuable. d. nonsubstitutable. - ANSWER a- costly to imitate 9. Capital market stakeholders include: a. industry competitors. b. shareholders. c. employees. d. government regulators. - ANSWER b- shareholders 10. The firm's capability will NOT be costly to imitate when it__________ a. was developed under a unique historical condition b. was developed under ambiguous causes c. is very rare d. reflects social complexity - ANSWER c- is very rare The final responsibility for forming the firm's mission rests with the: a. CEO. b. mid-level managers. c. employees. d. stakeholders. - ANSWER a- ceo 12. When capabilities serve as a source of competitive advantage for a firm over its rivals, the firm has created a(n): a. strategic mission. b. inspiring vision. c. core competence. d. sustainable market niche. - ANSWER c- core competence 14. The increasing economic interdependence among countries and their organizations as reflected in the flow of goods and services, financial capital, and knowledge across country borders is defined as: a. hypercompetition. b. boundaryless retailing. c. strategic intensity. d. globalization. - ANSWER d- globalization