Service Management: Operations, Strategy, and Information Technology
7th EditionJames Fitzsimmons, Mona Fitzsimmons
103 solutions
Service Management: Operations, Strategy, and Information Technology
7th EditionJames Fitzsimmons, Mona Fitzsimmons
103 solutions
Information Technology Project Management: Providing Measurable Organizational Value
5th EditionJack T. Marchewka
346 solutions
Operations Management: Sustainability and Supply Chain Management
12th EditionBarry Render, Chuck Munson, Jay Heizer
1,698 solutions
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Terms in this set (40)
All competitive advantages have:
a limited life.
an expiration date.
the ability to earn above-average returns indefinitely.
the ability to lead to more competitive advantages.
a limited life.
All competitive advantages have:
a limited life.
Internal analysis enables a firm to determine what the firm:
can do.
should do.
will do.
might do.
can do.
Internal analysis enables a firm to determine what the firm:
can do.
The proper matching of what a firm can do with what it might do:
balances the internal characteristics of the firm with the characteristics of the external environment.
overcomes the rigidity and inertia resulting from a history of success.
yields insights the firm requires to select its strategy.
develops core competencies based on human knowledge.
balances the internal characteristics of the firm with the characteristics of the external environment.
The proper matching of what a firm can do with what it might do:
balances the internal characteristics of the firm with the characteristics of the external environment.
Value consists of:
a product's proprietary characteristics and attributes for which customers are willing to pay.
a product's performance characteristics and attributes for which customers are willing to pay.
a product's proprietary characteristics and attributes for which customers consider paying.
a product's performance characteristics and attributes for which customers consider paying.
a product's performance characteristics and attributes for which customers are willing to pay.
Value consists of:
a product's performance characteristics and attributes for which customers are willing to pay.
The most numerous of the following organizational characteristics are:
resources.
capacities.
capabilities.
core competencies.
resources.
The most numerous of the following organizational characteristics are:
resources.
All of the following are tangible resources EXCEPT:
production equipment.
distribution centers.
a firm's reputation.
formal reporting structures.
a firm's reputation.
All of the following are tangible resources EXCEPT:
a firm's reputation.
Capabilities typically
come from:
individual resources.
one unique resource.
several outstanding resources used independently.
combining resources.
combining resources.
Capabilities typically come from:
combining resources.
Compared to tangible resources, intangible resources are ______ and ______.
less visible; more difficult to copy.
less visible; less difficult to copy.
more visible; more difficult to copy.
more visible; less difficult to copy.
less visible; more difficult to copy.
Compared to tangible resources, intangible resources are ______ and ______.
less visible; more difficult to copy.
Capabilities:
tend to be developed through firm-wide interactions and reside in the firm as a whole.
tend to be concentrated in the support activities of the value chain.
tend to be concentrated in the primary activities of the value chain.
are often developed in specific functional areas.
are often developed in specific functional areas.
Capabilities:
are often developed in specific functional areas.
______ are the source of a firm's ______, which are the source of the firm's ______.
Resources; capabilities; core competencies
Capabilities; resources; core competencies
Capabilities; resources; above-average returns
Core competencies; resources; competitive advantage
Resources; capabilities; core competencies
______ are the source of a firm's ______, which are the source of the firm's ______.
Resources; capabilities; core competencies
Innovation, consumer understanding, brand-building, go-to-market, and scale are activities that P&G performs well and are examples of the company's:
tangible resources.
intangible resources.
core competencies.
capabilities.
core competencies.
Innovation, consumer understanding, brand-building, go-to-market, and scale are activities that P&G performs well and are examples of the company's:
core competencies.
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 because of its
access to large amounts of financial capital.
causally ambiguous core competencies.
social complexity.
unique historical conditions.
social complexity.
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 because of its
social complexity.
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?
Valuable
Rare
Costly to imitate
Nonsubstitutable
Costly to imitate
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?
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:
achieve competitive parity.
have a competitive disadvantage.
have a temporary competitive advantage.
gain a sustainable competitive advantage.
gain a sustainable competitive advantage.
If a firm offers a service that is valuable, rare, and costly to imitate, but a substitute exists for the service, the firm will:
gain a sustainable competitive advantage.
Value chain activities include all of the following EXCEPT:
supply-chain management.
operations.
management information systems.
distribution.
management information systems.
Value chain activities include all of the following EXCEPT:
management information systems.
Value chain analysis is a tool used to:
analyze a firm's external environment for value-creating opportunities.
analyze a firm's value chain activities and support functions in isolation from its competitors' value chain.
understand the parts of the firm's operation that create value and those that do not.
identify the firm's core competencies in each of the primary activities of the firm.
understand the parts of the firm's operation that create value and those that do not.
Value chain analysis is a tool used to:
understand the parts of the firm's operation that create value and those that do not.
Examples of support activities include all of the following EXCEPT:
finance.
human resources.
follow-up service.
management information systems.
follow-up service.
Examples of support activities include all of the following EXCEPT:
follow-up service.
A major U.S. manufacturer of children's toys believes its main competitive advantage lies in its continuing development of innovative toys and games. The company is facing increasing competition on price, and it is strongly considering outsourcing to offshore firms as a means of reducing costs. The LAST function this firm should consider outsourcing is:
operations.
research and development.
supply-chain management.
distribution.
research and development.
A major U.S. manufacturer of children's toys believes its main competitive advantage lies in its continuing development of innovative toys and games. The company is facing increasing competition on price, and it is strongly considering outsourcing to offshore firms as a means of reducing costs. The LAST function this firm should consider outsourcing is:
research and development.
A major reason outsourcing is effective is that:
it increases the innovative potential of the firm.
few firms possess superior capability in all primary and support activities.
it permits unlimited access to capital resources.
competitors do not have access to the same external sources.
few firms possess superior capability in all primary and support activities.
A major reason outsourcing is effective is that:
few firms possess superior capability in all primary and support activities.
All core competencies have the potential to become core:
rigidities.
stagnations.
inefficiencies.
weaknesses.
rigidities.
All core competencies have the potential to become core:
rigidities.
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