Management 490 Chapter 3 Part 1

20 Questions | Total Attempts: 67

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Management Quizzes & Trivia

Study for Management 490 Test


Questions and Answers
  • 1. 
    Allow a firm to exploit external opportunities and/or neutralize external threats 
    • A. 

      Unique Resources and/or Capabilities

    • B. 

      Core Competency (Distinctive Competence)

    • C. 

      Valuable Resources and/or Capabilities

  • 2. 
    Only one or a small group of organizations possess a valuable resource or capability 
    • A. 

      Unique Resources and/or Capabilities

    • B. 

      Valuable Resources and/or Capabilities

    • C. 

      Organizational Resources

  • 3. 
    Only result in a competitive advantage if they are uniquely valuable in the external environment 
    • A. 

      Organizational Resources

    • B. 

      Intangible Resources

    • C. 

      Tacit Knowledge

  • 4. 
    A resource or capability that has all the sustainable competitive advantage characteristics and they can be applied to more than one business area 
    • A. 

      Unique Resources and/or Capabilities

    • B. 

      Core Competency (Distinctive Competence)

    • C. 

      Agency Problem

  • 5. 
    Can be touched and/or quantified
    • A. 

      Intangible Resources

    • B. 

      Corporate Governance

    • C. 

      Tangible Resources

  • 6. 
    Cannot be touched and/or quantified
    • A. 

      Unique Resources and/or Capabilities

    • B. 

      Intangible Resources

    • C. 

      Tangible Resources

  • 7. 
    The highest ranking officer in a large organization who has the responsibility for setting the strategic direction of a firm 
    • A. 

      Chief Executive Officer (CEO)

    • B. 

      Corporate Governance

    • C. 

      Top Management Team

  • 8. 
    Several high ranking officials such as chief operating officers and vice presidents 
    • A. 

      Top Management Team

    • B. 

      Chief Executive Officer (CEO)

    • C. 

      Corporate Governance

  • 9. 
    Holding balance between economic and social goals, and between individual and communal goals 
    • A. 

      Top Management Team

    • B. 

      Chief Executive Officer (CEO)

    • C. 

      Corporate Governance

  • 10. 
    Managers who attempt to maximize their own self interest at the expense of share holders 
    • A. 

      Organizational Resources

    • B. 

      Codified Knowledge

    • C. 

      Agency Problem

  • 11. 
    Includes things like formulas, designs, and computer code that can be communicated with precision through written means 
    • A. 

      Codified Knowledge

    • B. 

      Tacit Knowledge

    • C. 

      Marketing and Sales

  • 12. 
    Difficult to describe with words
    • A. 

      Tangible Resources

    • B. 

      Tacit Knowledge

    • C. 

      Codified Knowledge

  • 13. 
    Divides organizational processes into distinct activities that create value for the customer. 
    • A. 

      Value Chain

    • B. 

      Tangible Resources

    • C. 

      Organizational Resources

  • 14. 
    Includes supply chain activities associated with acquiring inputs that are used in the product (warehousing, materials, handling, and inventory control).
    • A. 

      Marketing and Sales

    • B. 

      Inbound Logistics

    • C. 

      Outbound Logistics

  • 15. 
    Activities related to storing and physically distributing the final product to customers. 
    • A. 

      Outbound Logistics

    • B. 

      Inbound Logistics

    • C. 

      Value Chain

  • 16. 
    Includes finished goods warehousing, order processing, and transportation
    • A. 

      Inbound Logistics

    • B. 

      Corporate Governance

    • C. 

      Outbound Logistics

  • 17. 
    Transforming inputs into the final product through activities such as machining, assembly, molding, testing, and printing 
    • A. 

      Administration

    • B. 

      Operations

    • C. 

      Service

  • 18. 
    Processes through which the customer can purchase the product and through which they are induced to do so. 
    • A. 

      Marketing and Sales

    • B. 

      Operations

    • C. 

      Procurement

  • 19. 
    Includes advertising, distribution of catalogs, direct sales, distribution channeling, promotion, and pricing 
    • A. 

      Outbound Logistics

    • B. 

      Operations

    • C. 

      Marketing and Sales

  • 20. 
    Providing service to enhance or maintain product value, such as repairing, supplying parts, or installation 
    • A. 

      Operations

    • B. 

      Value Chain

    • C. 

      Service

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