Competitive advantage can best be described as

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Part 1 of 1 –

Question 1 of 20 5.0 Points
Competitive advantage can best be described as:

A. increased efficiency.

B. what sets an organization apart.

C. a strength of the organization.

D. intangible resources.
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Question 2 of 20 5.0 Points
Which one of the following factors is considered to make an organization’s resources unique?

A. Durability

B. Imitability

C. Quality

D. Efficiency
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Question 3 of 20 5.0 Points
Experiences, characteristics, and knowledge are all aspects that represent:

A. financial resources.

B. intangible resources.

C. human resources.

D. physical resources.
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Question 4 of 20 5.0 Points
Imitability of a resource can occur through:

A. duplication.

B. exploitation.

C. substitution.

D. duplication and substitution.
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Question 5 of 20 5.0 Points
According to the guerrilla view of competitive advantage, the state of an organization’s competitive advantage is:

A. temporary.

B. long term.

C. long term based on the role of strategic leadership.

D. able to provide stable cash flows.
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Question 6 of 20 5.0 Points
American Airlines starting an airfare war by drastically reducing prices is an example of a change in the __________ environment.

A. internal

B. external

C. resource

D. modified environment
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Question 7 of 20 5.0 Points
The use of equipment, materials, knowledge, and experience to perform tasks is defined as:

A. the information revolution.

B. technology.

C. globalization.

D. resource allocation.
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Question 8 of 20 5.0 Points
__________ is the process of taking a creative idea and turning it into a product or process that can be used or sold.

A. Technology

B. Innovation

C. Invention

D. Discovery
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Question 9 of 20 5.0 Points
The influence of globalization in managing strategically can be demonstrated in:

A. the global marketplace.

B. global competition.

C. the organization itself.

D. global competitors and the global marketplace.
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Question 10 of 20 5.0 Points
Capitalizing on information, people, ideas, and knowledge characterizes the implication of:

A. vanishing distance.

B. reduced need for physical assets.

C. compressed time.

D. turbulent change.
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Question 11 of 20 5.0 Points
__________ is defined as a structured transition in what an organization does and how it does it.

A. Strategy

B. Strategic management

C. Organizational change

D. Globalization
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Question 12 of 20 5.0 Points
Instant interactivity reflects the environment of:

A. reduced need for physical assets.

B. compressed time.

C. vanishing distance.

D. constant change.
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Question 13 of 20 5.0 Points
Companies such as Google and Apple are finding that they can achieve a sustainable competitive advantage with:

A. physical assets.

B. physical distance.

C. non physical assets.

D. vanishing distance.
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Question 14 of 20 5.0 Points
Corporate social responsibility (CSR) is the obligation of __________ to make decisions and act in ways that recognize the interrelatedness of business and society.

A. competitors

B. stakeholders

C. community

D. organizational decision makers
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Question 15 of 20 5.0 Points
The traditional view of social responsibility states that corporations:

A. should exist only to represent the stockholders.

B. must represent all stakeholder groups.

C. should operate on the basis of their suppliers’ interests.

D. function as a measure of consumer behavior.
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Question 16 of 20 5.0 Points
The __________ should elaborate a purpose for the organization.

A. vision

B. competitive strategy

C. mission

D. strategy
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Question 17 of 20 5.0 Points
A __________ statement is a statement of what specific organizational units do and what they hope to accomplish.

A. vision

B. strategy

C. technology

D. mission
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Question 18 of 20 5.0 Points
The competitive advantage perspective that focuses on structural forces within an industry, the competitive environment of firms, and how these influence competitive advantage is the __________ view.

A. industrial-organizational

B. resource-based

C. guerilla

D. structured-competitive
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Question 19 of 20 5.0 Points
The ability to access information with great speed reflects the impact of:

A. the information revolution.

B. technological advances and breakthroughs.

C. globalization.

D. the Internet.
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Question 20 of 20 5.0 Points
The __________ view takes the approach that a firm’s resources are more important than industry structure in getting and keeping competitive advantage.

A. industrial organization

B. resources-based

C. supplier-based

D. guerrilla-based
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