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.
Which one of the following factors is considered to make an organization’s resources unique?
Experiences, characteristics, and knowledge are all aspects that represent:
A. financial resources.
B. intangible resources.
C. human resources.
D. physical resources.
Imitability of a resource can occur through:
D. duplication and substitution.
According to the guerrilla view of competitive advantage, the state of an organization’s competitive advantage is:
B. long term.
C. long term based on the role of strategic leadership.
D. able to provide stable cash flows.
American Airlines starting an airfare war by drastically reducing prices is an example of a change in the __________ environment.
D. modified environment
The use of equipment, materials, knowledge, and experience to perform tasks is defined as:
A. the information revolution.
D. resource allocation.
__________ is the process of taking a creative idea and turning it into a product or process that can be used or sold.
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.
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.
__________ is defined as a structured transition in what an organization does and how it does it.
B. Strategic management
C. Organizational change
Instant interactivity reflects the environment of:
A. reduced need for physical assets.
B. compressed time.
C. vanishing distance.
D. constant change.
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.
Corporate social responsibility (CSR) is the obligation of __________ to make decisions and act in ways that recognize the interrelatedness of business and society.
D. organizational decision makers
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.
The __________ should elaborate a purpose for the organization.
B. competitive strategy
A __________ statement is a statement of what specific organizational units do and what they hope to accomplish.
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.
The ability to access information with great speed reflects the impact of:
A. the information revolution.
B. technological advances and breakthroughs.
D. the Internet.
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