Podcast
Questions and Answers
What is the term used to describe an organization's ability to exploit its resources?
What is the term used to describe an organization's ability to exploit its resources?
- Capabilities (correct)
- Tangible assets
- Core competencies
- Cross-functional integration
According to the VRIO framework, what does 'I' stand for?
According to the VRIO framework, what does 'I' stand for?
- Value
- Refers to customer value and competitive advantage
- Organization
- Imitability (correct)
What ensures the sustainability of a firm's distinctive competency?
What ensures the sustainability of a firm's distinctive competency?
- The convenience of duplicating core competencies
- The rate of explicit knowledge within the firm
- The rate at which resources depreciate (correct)
- The ability to communicate competencies effectively
Which type of knowledge is easily articulated and communicated?
Which type of knowledge is easily articulated and communicated?
What is the basic building block of an organization according to the text?
What is the basic building block of an organization according to the text?
What does the 'V' in the VRIO framework stand for?
What does the 'V' in the VRIO framework stand for?
What are the key components of a business model according to the text?
What are the key components of a business model according to the text?
Which group along the supply chain is responsible for sourcing raw materials and producing finished products?
Which group along the supply chain is responsible for sourcing raw materials and producing finished products?
How do companies attract customers to premium products according to the text?
How do companies attract customers to premium products according to the text?
What does an entity hosting a platform for other companies to do business receive in exchange?
What does an entity hosting a platform for other companies to do business receive in exchange?
Which entity is paid to promote goods and receives compensation in return according to the text?
Which entity is paid to promote goods and receives compensation in return according to the text?
What is characterized as tacit knowledge according to the text?
What is characterized as tacit knowledge according to the text?
What is the main goal of a business model that sells a durable product below cost to generate high-margin sales of a disposable component?
What is the main goal of a business model that sells a durable product below cost to generate high-margin sales of a disposable component?
In a business model where the amount charged depends on how much of the product or service is used, what pricing strategy is being employed?
In a business model where the amount charged depends on how much of the product or service is used, what pricing strategy is being employed?
What type of business model connects buyers and sellers without directly selling any goods themselves?
What type of business model connects buyers and sellers without directly selling any goods themselves?
What is the purpose of conducting a value chain analysis in business?
What is the purpose of conducting a value chain analysis in business?
Which stage comes first in the Typical Value Chain for a Manufactured Product?
Which stage comes first in the Typical Value Chain for a Manufactured Product?
What do businesses engaging in a franchise model receive from franchisees?
What do businesses engaging in a franchise model receive from franchisees?
What activities are related to turning raw materials and components into a finished product?
What activities are related to turning raw materials and components into a finished product?
Which activities are related to the distribution of products, including packaging and shipping?
Which activities are related to the distribution of products, including packaging and shipping?
Which activities are related to the sourcing of raw materials, components, equipment, and services?
Which activities are related to the sourcing of raw materials, components, equipment, and services?
What activities involve the recruitment, hiring, training, development, retention, and compensation of employees?
What activities involve the recruitment, hiring, training, development, retention, and compensation of employees?
Which activities are related to research and development, including product design and market research?
Which activities are related to research and development, including product design and market research?
What activities are related to marketing and selling a product or service, including promotion and advertising?
What activities are related to marketing and selling a product or service, including promotion and advertising?
What type of organization structure is suitable for a small, entrepreneur-dominated company with one or two product lines?
What type of organization structure is suitable for a small, entrepreneur-dominated company with one or two product lines?
Which organizational structure involves strategic business units with independent product-market segments?
Which organizational structure involves strategic business units with independent product-market segments?
What does corporate culture help generate within an organization?
What does corporate culture help generate within an organization?
Which type of company structure is characterized by legally independent subsidiaries operating under one corporate umbrella?
Which type of company structure is characterized by legally independent subsidiaries operating under one corporate umbrella?
What is the primary advantage of a divisional structure for a large corporation with many product lines?
What is the primary advantage of a divisional structure for a large corporation with many product lines?
In which type of organization would employees typically be specialists in functions like manufacturing, marketing, finance, and human resources?
In which type of organization would employees typically be specialists in functions like manufacturing, marketing, finance, and human resources?
