Podcast
Questions and Answers
What is the primary reason firms prefer to rely on intangible resources?
What is the primary reason firms prefer to rely on intangible resources?
- Because they are less expensive
- Because they are easier to manage
- Because they are more tangible
- Because they are less visible and difficult for competitors to understand, purchase, imitate, or substitute (correct)
Which of the following is an example of intangible resources?
Which of the following is an example of intangible resources?
- Access to raw materials
- Knowledge (correct)
- Financial capital
- Plant and equipment
What is a disadvantage of the resource-based view of the firm?
What is a disadvantage of the resource-based view of the firm?
- It does not account for human resources
- It only focuses on tangible resources
- It ignores the firm’s interaction with stakeholders
- It refers to people as ‘human resources’ (correct)
What is the term used to describe the analysis of a firm’s resources, capabilities, and core competencies?
What is the term used to describe the analysis of a firm’s resources, capabilities, and core competencies?
Which of the following is NOT an example of tangible resources?
Which of the following is NOT an example of tangible resources?
What is the classification of resources that includes patents, trademarks, and copyrights?
What is the classification of resources that includes patents, trademarks, and copyrights?
What is considered among the most significant of a firm's capabilities?
What is considered among the most significant of a firm's capabilities?
What is involved in strategy formulation, selection, implementation, and evaluation?
What is involved in strategy formulation, selection, implementation, and evaluation?
What type of problem requires lateral thinking?
What type of problem requires lateral thinking?
What is required to develop a strategy?
What is required to develop a strategy?
What type of thinking is necessary for convergent problems?
What type of thinking is necessary for convergent problems?
What is involved in the thinking process for strategy development?
What is involved in the thinking process for strategy development?
What makes a competitive advantage based on a resource more sustainable?
What makes a competitive advantage based on a resource more sustainable?
What do resources and capabilities lack in themselves?
What do resources and capabilities lack in themselves?
What often evolves and develops over time in a firm?
What often evolves and develops over time in a firm?
What is a key component of a firm's competency?
What is a key component of a firm's competency?
What may rival firms have that is similar to a firm's capabilities?
What may rival firms have that is similar to a firm's capabilities?
What is not a key component of a firm's resources and capabilities?
What is not a key component of a firm's resources and capabilities?
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