2024 – Question 1 Competitive advantage can best be described as A increased efficiency B what sets

Question 1
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.   
 
Question 2
Which one of the following factors is considered to make an organization’s resources unique?
A. Durability    
B. Imitability    
C. Quality    
D. Efficiency   
 
Question 3
Experiences, characteristics, and knowledge are all aspects that represent:
A. financial resources.    
B. intangible resources.    
C. human resources.    
D. physical resources.   
 
Question 4
Imitability of a resource can occur through:
A. duplication.    
B. exploitation.    
C. substitution.    
D. duplication and substitution.   

Question 1
According to the guerrilla view of competitive advantage, the state of an organization’s competitive advantage is:
A. temporary.    
B. long term.    
C. long term based on the role of strategic leadership.    
D. able to provide stable cash flows.   
 
Question 2
American Airlines starting an airfare war by drastically reducing prices is an example of a change in the __________ environment.
A. internal    
B. external    
C. resource    
D. modified environment   
 
Question 3
The use of equipment, materials, knowledge, and experience to perform tasks is defined as:
A. the information revolution.    
B. technology.    
C. globalization.    
D. resource allocation.   
 
Question 4
__________ is the process of taking a creative idea and turning it into a product or process that can be used or sold.
A. Technology    
B. Innovation    
C. Invention    
D. Discovery   

Question 1
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.   
 
Question 2
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.   
 
Question 3
__________ is defined as a structured transition in what an organization does and how it does it.
A. Strategy    
B. Strategic management    
C. Organizational change    
D. Globalization   
 
Question 4
Instant interactivity reflects the environment of:
A. reduced need for physical assets.    
B. compressed time.    
C. vanishing distance.    
D. constant change.   

Question 1
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.   
 
Question 2
Corporate social responsibility (CSR) is the obligation of __________ to make decisions and act in ways that recognize the interrelatedness of business and society.
A. competitors    
B. stakeholders    
C. community    
D. organizational decision makers   
 
Question 3
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.   
 
Question 4
The __________ should elaborate a purpose for the organization.
A. vision    
B. competitive strategy    
C. mission    
D. strategy

Question 1
A __________ statement is a statement of what specific organizational units do and what they hope to accomplish.
A. vision    
B. strategy    
C. technology    
D. mission   
 
Question 2
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.
A. industrial-organizational    
B. resource-based    
C. guerilla    
D. structured-competitive   
 
Question 3
The ability to access information with great speed reflects the impact of:
A. the information revolution.    
B. technological advances and breakthroughs.    
C. globalization.    
D. the Internet.   

Question 4

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    
B. resources-based    
C. supplier-based    
D. guerrilla-based