1-Even though Easy Speak Inc. and KM Com Inc. operate in the same industry—telecommunications—each firm has a different and loyal customer base. While Easy Speak Inc. attracts young students and professionals through its efficient network coverage and pricing, KM Com Inc. attracts elderly customers solely due to its excellent customer service. Thus, both firms draw their strengths from distinct resource bundles. Which of the following assumptions of the resource-based model of competitive advantage does this scenario best illustrate?
2-The auditor of a public company is assessing the value of all the intangible assets owned by the company. Which of the following would most likely be included in this assessment?
a-THE COMPANY’S HEADQUARTERS
b-THE COMPANY’S BRAND EQUITY
c-the company’s cash reserves
d-the company’s plant and equipment
3-A firm’s _______ are best described as distinct and fine-grained business processes such as order taking, physical delivery of products, or invoicing customers.
4-For an asset or a capability to be included in a firm’s resource stock, it should be
a-readily available for purchase using cash.
b-commonly shared by other firms in the same industry.
c-built through investments over time.
d-capable of reducing the barriers to entry in an industry.
5-In the context of the SWOT matrix, which of the following best exemplifies an external opportunity for a firm?
a-increasing productivity of the employees
b-decreasing employee attrition within the firm
c-decreasing government interference in the target market
d-increasing inflation rates in the target market
6-A firm decides to retain $20,000 from its annual earnings and invest it in developing an advanced manufacturing system. In this scenario, the $20,000 would most likely be referred to as the firm’s
7-Which of the following is an example of a firm’s capabilities?
A-routine activities performed in the firm, like physical delivery of products
b-specific tasks involved in the invoicing of customers
c-assets such as plant and machinery owned by the firm
d-skills involved in training and managing a workforce
8-In the context of the VRIO framework, a resource is said to be valuable if it
a-allows a firm to take advantage of an external opportunity.
b-helps a firm increase its costs.
c-results in a perfectly competitive industry structure.
d-leads to competitive parity within an industry.
9-If a firm is not effectively organized to exploit the competitive potential of a valuable, rare, and costly to imitate (VRI) resource, the best case scenario is
a-a temporary competitive advantage.
b-a state of perfect competition.
10-Which of the following explains how dynamic capabilities are different from the resource-based view?
a-Dynamic capabilities deal with resource heterogeneity.
b-Dynamic capabilities deal with intangible resources.
c-Dynamic capabilities deal with tangible resources.
d-Dynamic capabilities deal with applying resources over time.
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