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BA 490 Test: MSM 4

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BA 490 Test: MSM 4.2 and 4.3 RBV

Question 1

Which of these does NOT help an organization determine whether resources provide an opportunity to develop competitive advantage?

		Valuable
		Organized to capture value
		Difficult to imitate
		New
		Rare

 

Question 2

You have recently opened a new business. The resources you own are not valuable. These would be considered a ______________ according to the VRIO framework.

		Temporary Competitive Advantage
		Sustained Competitive Advantage
		Competitive Parity
		Competitive Disadvantage
		Competitive advantage

 

Question 3

An important consideration within resource-based theory is the strategic value of a firm s resources. Which of the following resources would NOT be considered a strategic resource?

		"The firm s property, plant, and equipment"
		The firm's leadership team
		Reputation of the firm
		Brand name
		Firm's culture

 

Question 4

"Southwest Airline s culture provides the firm with uniquely strong employee relations in an industry where strikes, layoffs, and poor morale are common. Which of the following describes this resource?"

		Simple to implement
		Rare
		Dynamic
		Tangible
		Difficult-to-value

 

Question 5

"Southwest Airlines has resources that make the corporation successful while helping to neutralize the threats of other competitors. Its culture is unparalleled within the airline industry. Southwest Airlines has a fun and caring organizational culture that its competitors find difficult to imitate. The Airline has set up its organization to capture value through its customer service, which creates customer loyalty. Which of the following would best describe the following scenario?"

		Southwest Airlines has sustained competitive advantage
		"Southwest Airlines has value and has a rare culture, but is costly to imitate"
		Southwest Airlines does not have value
		Southwest Airlines is not organized to capture value
		Southwest Airlines has temporary competitive advantage

 

Question 6

"Specialty coffees are coffee beverages with unique formulas known only to its firm. Every coffeehouse company has their own specialty coffees. Using the VRIO as a tool, which of the following statements reveals why Starbucks does not have a SUSTAINED competitive advantage with its capability of making specialty coffees?"

		The specialty coffees do not add variety or value to the menu.
		Many local coffee shops can offer specialty drinks. Specialty drinks are not limited to Starbucks.
		The concept of a specialty coffee is hard to imitate.
		Starbucks is not taking full advantage of this capability.
		People struggle with picking a beverage at Starbucks because of the massive amount of options.

 

Question 7

"American Airlines is the largest airline in the world. In 2019, American Airlines surpassed other airlines in fleet size, passengers carried, and revenue passenger miles. American Airline s vast fleet is valuable, costly to imitate for competitors, rare in the industry, and organized to capture value. Assessing this resource using a VIRO analysis, which statement best reflects the potential competitive advantage yielded from American s air fleet?"

		The resource provides a competitive disadvantage for American Airlines.
		The resource provides a competitive parity for American Airlines.
		The resource provides a potential sustained competitive advantage for American Airlines.
		The resource provides a temporary competitive disadvantage for American Airlines.
		The resource provides a temporary competitive advantage for American Airlines.

 

Question 8

A business is analyzing its resources and has found a resource that is valuable and rare but is not costly to imitate. What is likely the result of such a resource?

		Competitive Parity
		Sustained Competitive Advantage
		Competitive Disadvantage
		Temporary Competitive Advantage
		Permanent Competitive Advantage

 

Question 9

What does the I in VRIO stand for?

		Important
		Imitate
		Inbound Logistics
		Inferior
		Influence

 

Question 10

A firm has a sustained competitive advantage. Which of the following describes their resources and capabilities?

		Value
		Rare
		Costly to initiate
		Organized to capture value
		All of the above

 

Question 11

Which of the following constitutes a strategic resource?

		The resource is valuable to the extent that it helps an organization be prepared for opportunities or threats.
		The resource is rare in the capacity that the company s competitors are lacking it.
		The resource is expensive to replicate/imitate.
		The resource is organized in a way that creates value.
		All of the above

 

Question 12

Strategic resources are vital to a company and its processes of earning capital. What is NOT one of the four categories do Strategic resources reflect qualities of? Strategic resources reflect the qualities of four categories. Which is not one of the four?

		Valuable
		Difficult to imitate
		Controlled
		Rare
		Organized to capture value

 

Question 13

"When a business has organizational systems, processes, and structures in place to capitalize on resource for a competitive advantage, it is an example of ______________."

		Being organized to capture value
		Tangible resources
		Having a produced/service that is difficult to imitate
		Having a rare product/service
		Temporary competitive advantage

 

Question 14

What are resources that provide an organization with an opportunity to develop competitive advantages over its rivals?

		Strategic Resources
		Tangible resources
		Intangible resources
		Capital resources
		Tactical resources

 

Question 15

"You own and operate a parking garage in your town. Your employees tell you they have noticed an increase in electric vehicles throughout the town and there has been a higher effort lately to take care of the environment. You tell your employees that you don t care about this trend and not to worry. A few months later, your company is struggling and having trouble keeping up with your competitors. Given what you know about the impacts of the Organizational Environment, which statement is most likely NOT a reason your company is doing poorly."

		Competitors have considered these changing desires and added new options like electric charging stations and electric bike rentals
		Your competitors are much smaller and don t pose a threat
		Your employees grew tired of your dismissive treatment and decided to work elsewhere
		You did not take the current Environment into account when developing your organization's future goals and strategic plan
		Employees who have stayed on no longer feel the need to bring up Environmental observations to you

 

Question 16

"The _______ is a major consideration in strategic assessment, a source of resources for an organization, and it influences the various strategic decisions that organizations face."

		Strategic Plan
		Mission Statement
		Environment
		Balanced Scorecard
		Organizational Value Statement

 

Question 17

The best definition of the environment consists of _____________.

		the set of external conditions and forces that have the potential to influence the organization
		the set of internal conditions and forces that have the potential to influence business decisions
		a set of different actions an organization takes to pursue or achieve a goal
		different business that revolve around competing with and coexisting with one another
		the past and present future relationships of an organization with their customers

 

Question 18

Which of the following cannot improve as the result of the change of environment?

		Failures
		Competitors
		Production
		Opportunities
		Threats

 

Question 19

Which of the following is the best reason why the external environment that surrounds an organization is important?

		The environment often holds the answers to a firm s financial questions and issues.
		The environment is a source of opportunities and threats for an organization.
		"The environment contains information on your competition, which you can use to gain a competitive advantage."
		"The environment dictates the supply and demand of your product, helping you forecast future business ventures."
		Studying the environment can reveal shifting tides in the industry and culture surrounding your product.

 

Question 20

Why would Subway s move to cut back the amount of salt in their sandwiches lead to other fast-casual companies examining whether they need to do the same?

		"Most of their customer bases are middle age, so there would be a demographics concern"
		"There was a societal shift towards healthier eating, so there would be a macro- environment concern"
		"There was a societal shift towards healthier eating, so there would be a competitive/industry environment concern"
		All of the above
		Salt is bad for you