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Exam 3: Analyzing the Internal Environment of the Firm

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Question 41

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An important implication of the balanced scorecard is that managers need not look at their job as primarily balancing stakeholder demands.

A) True
B) False

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Question 42

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Resources are valuable because they enable a firm to formulate and implement strategies to exploit opportunities, minimize threats, and improve its efficiency and effectiveness.

A) True
B) False

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Question 43

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Leverage ratios provide measures of a firm's capacity to meet its long-term financial obligations.

Establishing a culture to enhance creativity and innovation is an important consideration in which supporting activity?

To create an intangible resource that cannot be easily copied, Canadian retailer Holt Renfrew combines

All of the following are considered advantages of a just-in-time inventory system, except:

Providing excellent reward and incentive programs to motivate employees is an important consideration in which supporting activity?

The three key types of resources that are central to the resource-based view of the firm are

Financial analysis provides an accurate way to assess the relative strengths of firms and can be used as a complete guide to study companies.

Explain the dynamic capabilities perspective.

The resource-based view (RBV) combines both the internal analysis of the firm and the external analysis of the environment. Discuss and provide examples.

The value chain concept assumes that both primary and support activities produce value for customers.

Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations?

Products and services that are difficult to imitate help firms sustain their profitability.

A resource is valuable and rare but neither difficult to imitate nor without substitutes. This should enable the firm to attain

What are some of the key strengths and limitations of SWOT analysis?

The best measure of a company's ability to meet imminent financial obligations is known as the

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Which of the following is a support activity?

Locations, technologies, patents, monopoly licences, and exclusive permits are among the resources that convey uniqueness and could possibly lead to competitive advantage.