MID chapter 5 strategic

Those critical strengths and weaknesses that are likely to determine if a firm will be able to take advantage of opportunities while avoiding threats are called

• A) SWOT.

• B) competitive forces.

• C) internal strategic factors.

• D) quality accounting.

• E) factor analysis.

Which of the following is NOT one of the four question areas Barney proposes in his VRIO framework used to evaluate a firm's key resources?

• organization

• durability

• rareness

• value

• imitability

When a company determines that a competency provides a competitive advantage to the customer, Barney refers to this issue as

• Valuable

• rareness

• imitability

• organization

• durability

According to Barney's VRIO framework, the firm's exploit of a competency pertains to

• Valuable

• rareness.

• imitability

• organization.

A corporation's ability to exploit its resources is referred to as its

• Resources.

• Capabilities.

• Core competencies.

• Critical success factors.

• Key performance factors.

FedEx's application of information technology to all its operations is an example of

• Core competencies.

• Resources.

• Distinctive competencies.

• Critical success factors.

When a company's core competencies are superior to those of competitors, these are known as

.

E) key performance factors.

• distinctive competencies.

• Resources.

• Core competencies

• Critical success factors.

Which of the following statements is true concerning clusters?

• The desire to build or upgrade a core competency is one reason why entrepreneurial and other fast-growing firms often tend to locate close to their competitors.

• Clusters are geographic concentrations of interconnected companies and industries.

• An example of a cluster in the United States is California's Silicon Valley.

• According to Porter, clusters provide access to employees, suppliers, specialized information, and complementary products.

• all of the above

The rate at which a firm's underlying resources, capabilities, or core competencies can be duplicated by others is called

• Imitability

• replicability

• transparency

• transferability

When a company takes apart a competitor's product in order to find out how it works, this process is known as

• Reverse Engineering

• Replicability

• Transparency

• Transferability