Question 1 of 20

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 of 20

Which one of the following factors is considered to make anorganization’s resources unique?

A. Durability    

B. Imitability    

C. Quality    

D. Efficiency   

Question 3 of 20

Experiences, characteristics, and knowledge are all aspects thatrepresent:

A. financial resources.    

B. intangible resources.    

C. human resources.    

D. physical resources.   

Question 4 of 20

Imitability of a resource can occur through:

A. duplication.    

B. exploitation.    

C. substitution.    

D. duplication and substitution.   

Question 5 of 20

According to the guerrilla view of competitive advantage, the stateof an organization’s competitive advantage is:

A. temporary.    

B. long term.    

C. long term based on the role of strategicleadership.    

D. able to provide stable cash flows.   

Question 6 of 20

American Airlines starting an airfare war by drastically reducingprices is an example of a change in the __________ environment.

A. internal    

B. external    

C. resource    

D. modified environment   

Question 7 of 20

The use of equipment, materials, knowledge, and experience toperform tasks is defined as:

A. the information revolution.    

B. technology.    

C. globalization.    

D. resource allocation.   

Question 8 of 20

__________ is the process of taking a creative idea and turning itinto a product or process that can be used or sold.

A. Technology    

B. Innovation    

C. Invention    

D. Discovery   

Question 9 of 20

The influence of globalization in managing strategically can bedemonstrated in:

A. the global marketplace.    

B. global competition.    

C. the organization itself.    

D. global competitors and the globalmarketplace.   

Question 10 of 20

Capitalizing on information, people, ideas, and knowledgecharacterizes the implication of:

A. vanishing distance.    

B. reduced need for physical assets.    

C. compressed time.    

D. turbulent change.   

Question 11 of 20

__________ is defined as a structured transition in what anorganization does and how it does it.

A. Strategy    

B. Strategic management    

C. Organizational change    

D. Globalization   

Question 12 of 20

Instant interactivity reflects the environment of:

A. reduced need for physical assets.    

B. compressed time.    

C. vanishing distance.    

D. constant change.   

Question 13 of 20

Companies such as Google and Apple are finding that they canachieve a sustainable competitive advantage with:

A. physical assets.    

B. physical distance.    

C. non physical assets.    

D. vanishing distance.   

Question 14 of 20

Corporate social responsibility (CSR) is the obligation of__________ to make decisions and act in ways that recognize theinterrelatedness of business and society.

A. competitors    

B. stakeholders    

C. community    

D. organizational decision makers   

Question 15 of 20

The traditional view of social responsibility states thatcorporations:

A. should exist only to represent thestockholders.    

B. must represent all stakeholdergroups.    

C. should operate on the basis of their suppliers’interests.    

D. function as a measure of consumerbehavior.   

Question 16 of 20

The __________ should elaborate a purpose for the organization.

A. vision    

B. competitive strategy    

C. mission    

D. strategy   

Question 17 of 20

A __________ statement is a statement of what specificorganizational units do and what they hope to accomplish.

A. vision    

B. strategy    

C. technology    

D. mission   

Question 18 of 20

The competitive advantage perspective that focuses on structuralforces 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 19 of 20

The ability to access information with great speed reflects theimpact of:

A. the information revolution.    

B. technological advances andbreakthroughs.    

C. globalization.    

D. the Internet.   

Question 20 of 20

The __________ view takes the approach that a firm’s resources aremore important than industry structure in getting and keepingcompetitive advantage.

A. industrial organization    

B. resources-based    

C. supplier-based    

D. guerrilla-based

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