16. A resource or capability that has led to sustainable competitive advantage f
ID: 426193 • Letter: 1
Question
16. A resource or capability that has led to sustainable competitive advantage for a firm has the following characteristic(s):
A. It is hard to imitate
B. Managers are aware of and taking advantage of the potential of the resource or capability
C. It is unique
D. It is valuable
E. All of the above
17. Which of the following is most likely to be a source of sustainable competitive advantage?
A. A state-of-the art machine that a firm purchases from a supplier
B. A new product
C. A research and development process
D. A unique plant design
E. A new service
18. Which ratio measures a firm’s liquidity?
A.Debt-to-equity
B.Current
C.Return-on-assets
D.Asset turnover
E.None of these
19. Which ratio measures a firm’s leverage?
A. Debt-to-equity
B. Current
C. Return-on-assets
D. Asset turnover
E. None of these
20. Which group of stakeholders has, as its primary function, protecting the interests of the stockholders?
A. Managers
B. Employees
C. Board of directors
D. Unions
E. Customers
21. Primary activities of the value chain include all of the following except:
A. Inbound logistics
B. Procurement
C. Marketing and sales
D. Service
E. Operations
22. With regards to the value chain, an organization can develop a competitive
advantage:
A. In any of the primary or support activities
B. In the way primary and support activities are combined
C. In the way internal activities are linked to the external environment
D. Through activities that create value for the customer
E. All of these are ways to develop a competitive advantage
23. Strategic direction is reflected by:
A.The organization’s purpose
B.A definition of the organization’s business or businesses
C.The organization’s vision
D.The organizational mission
E.All of the above
24. Structural inertia is stronger:
A. In a firm that has been successful over a long period of time
B. In a firm with flexible systems and processes
C. In a firm with a weak culture
D. In a firm that has had low performance over a long period of time
E. When the economy is weak
25. A mission statement often contains:
A. An organization's vision
B. An organization's strengths and weaknesses
C. An organization's functional?level strategies
D. An organization's top management team membership
E. All of the above
26. The view of top management concerning what an organization can become is the organization's:
A. Business definition
B. Mission
C. Vision
D. Ethical dilemma
E. Enterprise strategy
Explanation / Answer
16. A resource or capability that has led to sustainable competitive advantage for a firm is hard to imitate. Manager are mostly aware of such kind of advantage and they also take advantage of the potential of the capability. Most of such resources or capabilities are unique and valuable to the firm.
Thus, Option E seems to be the correct answer.
17. A source of sustainable competitive advantage must be something which continue to provide firm a cutting-edge advantage over other competitors. Among all of the options, a research and development process is something which will keep giving the firm sustained competitive advantage.
Thus, Option C is the correct answer.
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