a firm's tangible resource includes which of the following?a firm's tangible resource includes which of the following?

a firm's tangible resource includes which of the following? a firm's tangible resource includes which of the following?

Major cities in hot climates such as Las Vegas, Los Angeles, and Atlanta are confronted by dramatically shrinking water supplies. In working through the decision tree, once a no is obtained, there is no need to continue through the tree. Which of the following is not a reason to understand social complexity? Superiority in competitive advantage refers to all of the following factors EXCEPT: After their bass player joins the Marines, Lenny elopes on a whim, and Jimmys diva attitude runs amok, the band is finished and Guy is left to wonder what might have been. Southwests culture arose from its very humble beginnings. Explanation: Tangible resources have a physical form, t, 5. D. At Intel the key historic decision to abandon memory chips and concentrate upon microprocessors was the result of which of the following? One resource is lead singer Jimmy Mattingly, who possesses immense musical talent. D) Production equipment can be considered an asset or resource of a company that is physical in nature and can be measured, making it a tangible resource. Capabilities are important in part because they are how organizations capture the potential value that resources offer. The tangibility of a firms resources is an important consideration within resource-based theory. Strategic Planningb. Is Southwests culture valuable? D) rare, valuable, physically unique, causally ambiguous. Ans. DIFFICULT-TO-IMITATE resources often involve legally protected intellectual property such as trademarks, patents, or copyrights. ~~~~~\text{Clothing } & & 40.00 & 31.75\\ A firms tangible resource includes which of the following? B) minimized idle production facilities and workers. A resource that is difficult to imitate, or create ready substitutes for is called, The VRIO criterion that determines whether a resource or capability is the source of, competitive advantage recognized that the firm must have the _______________ capability to. C) supports both individual primary and support activities and the entire value chain. Cross), Civilization and its Discontents (Sigmund Freud), Psychology (David G. Myers; C. Nathan DeWall), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Give Me Liberty! Also assume that the cost of each unit of labor is $50. Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. B) intangible resources and operational measures. Do any of the resources or capabilities of your favorite restaurant have the four qualities of resources (VRIO) that lead to success as articulated by resource-based theory. Processes related to passengers are infused with customer service attention and actions. Explore our library and get Management Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely, 2020-2023 Quizplus LLC. Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors. D) supports mostly support activities but does have some impact on primary activities. Production equipment O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? Organizing In other words, describe a management practice from the course content relating to each of the four functions of management. The balanced scorecard enables managers to consider their business from all of the following perspectives except. This customer loyalty is why many passengers choose Southwest over other airlines. Straddling strategies as an approach to strategic management is not recommended for which reason: It is an attempt to gain competitive advantage based on overall lowcost provider of a product, Research shows that straddling strategies leads to confusion among managers about the, It is an indication that the firm's managers have not made necessary choices about the, According to Porter straddling strategies is recommended for narrow scope firms that have, The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and. For example, Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingto create a unique business model whose performance is without peer in the industry. c. Strong competitive threats from product substitutes ~~~~~\text{Parking/tolls} & & 15.00 & 15.00\\[10pt] As another example, what about Southwest Airlines capability to arrive on time at a much higher rate than the industry average? Resource-based theory suggests that tangible or intangible resources that are valuable, rare, difficult to imitate, and organized to capture value best position a firm for long-term success. B) the key emphasis on customer satisfaction and financial goals are only a means to that end. Ans. and more. Build the IS-LM function.b. What tangible and intangible resources does your favorite restaurant have that might give it a competitive advantage? Which of the following would be most difficult to assess? See Page 1. D) the firm's resources are path dependent. Then discuss how the company caters for their interests and what may happen if their expectations are not met.A water utility companyA multinational food companyA local airport. Distribution centers. By how much? Thus an organization cannot hope to create an enduring competitive advantage around common resources. B) Capacity for innovation. Superiority in competitive advantage refers to all of the following factors: 1) Customer service. The source of Ardent's success is causally ambiguous. The CEO decides to move the firm's textile manufacturing back to the US to capitalize on the increasing pressure from shareholders to process textiles in the US. B, a. Resource-based theory can be confusing because the term resources is used in many different ways within everyday common language. ~~~~~\text{Gasoline purchases} & & 85.00 & 101.70\\ Knowledge These two building blocks are tightly linkedcapabilities from using resources over time. D) top management providing a key role in collaborating with important customers. A firm's strategy includes which of the following: Captures how vision and mission will be achieved, Establishes systems and processes used to implement the goals, Sets specific operating procedures to be followed by front line. The VRIO Framework with numbers. CC BY-SA 4.0. View the full answer. It is important to note that the concept of strategy is relevant to only large, public companies likeGE. In assessing its primary activities, an airline would examine. Examples include all of the following except: A) negotiating and maintaining ongoing relations with regulatory bodies. Resources such as cash and vehicles are valuable, of course, but an organizations competitors can readily acquire them. While resources refer to what an organization owns, capabilities refer to what the organization can do. To most individuals, cash is an important resource. A) physical uniqueness, path dependency, causal ambiguity, and social complexity. In value chain analysis, the activities of an organization are divided into two major categories of value activities: primary and support. Superiority in competitive advantage refers to all of the following factors EXCEPT: Where does strategy formulation fit within the POLC framework? When the talent show audience goes crazy in response, it marks the beginning of a meteoric rise for both the song and the band. Acknowledged by top management All Rights Reserved. If not then culture provides Southwest with a temporary competitive advantage over its rivals, but competitors can imitate it. False C) Organizational routines. C) financial resources, physical resources, and technological resources. The intersection of IS-LM functions defines four areas. gifts} & & 20.00 & 11.65\\ Suppliers and buyers with little bargaining power Most airlines struggle to be profitable, but Southwest makes money virtually every year. Barney, J. Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. A clothing manufacturing plant in Cambodia produces pants and shirts for a European clothing designer, distributor, and retailer. C) financial resources, physical resources, and technological resources. ORGANIZED TO CAPTURE VALUE: Having in place the organizational systems, processes, and structure to capitalize on the potential of the resources and capabilities of the firm to provide a competitive advantage. Superiority in competitive advantage refers to all of the following factors EXCEPT: a. This is an example of, A variety of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its suppliers and customers. B) the legitimacy and reputation of a firm, D) the efficiency with which a firm utilizes its assets. For the Unit 8 Learning Journal, reflect for a few minutes on the four functions of management: Planning, Organizing, Leading, and Controlling, represented by the acronym P-O-L-C. Verified answer. A resource is organized to capture value when the firm has organizational systems, processes, and structure in place to capitalize on the resource for a competitive advantage. A dynamic capability exists when a firm is skilled at continually updating its array of capabilities to keep pace with changes in its environment. Knowledge b. B) financial resources, physical resources, and the capacity to combine intangible resources. This may provide bargaining power for the firm in the marketplace. For firms such as Walgreen Co. (a chain of drugstores), information systems have been a source of competitive advantage by enabling them to. D) if the firm's stock is publicly traded. Southwest Airliness culture provides the firm with uniquely strong employee relations in an industry where strikes, layoffs, and poor morale are common. A) Organizational strengths may not lead to competitive advantage, B) SWOT's focus on the external environment is too broad and integrative, C) SWOT gives a one-shot view of a moving target, D) SWOT overemphasizes a single dimension of strategy. Strategic Management Journal, 15(4), 271290. & & &\text{Actual}\\ This is an example of which concept? A resource is valuable and rare but neither difficult to imitate nor without substitutes. Option A is incorrect here. C. "Afirm's reputation D. Afirm's headquarters building. Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. B) in periods of recession or economic boom. Knowledge Capacity for innovation Organizational routines Production equipment. Resources such as Southwests culture that reflect all four qualitiesvaluable, rare, difficult to imitate, and organized to capture valueare ideal because they can create sustained competitive advantages. Capacity for innovation c. Organizational routines d. Production equipment. Course Hero is not sponsored or endorsed by any college or university. Cropped. Which of the following is a support activity? Other airlines could not replicate Southwests culture, regardless of how hard they might try, because of Southwests unusual history. D) the effectiveness of its lobbying activities. d. Threats posed by new entrants In the 1996 movie That Thing You Do!, unwittingly assembling a unique bundle of resources leads a 1960s band called The Wonders to rise from small-town obscurity to the top of the music charts. A firm's strategy includes which of the following: a. BUS 1101 Ch. 5 Flashcards | Quizlet ______________ are the competencies or skills that a firm employs to transform inputs into outputs. A companys value derives not from things, but from ____________. Review the material in Chapter 20 and respond to the following: Discuss the modern quantity theory and the liquidity preference theory. A resource-based view of the firm. More specifically, capabilities refer to the firms ability to bundle, manage, or otherwise exploit resources in a manner that provides added value and, hopefully, advantage over competitors. Strategic Management Journal, 5, 171180. A useful way to identify a company's resources is to view them as: A. divided into two main categories, tangible and intangible. C) rarity, path dependency, causal ambiguity, and social substitutability. A) KnowledgeB) Capacity for innovationC) Organizational routinesD) Production equipment. C) Every organization has a routine that it follows for its procedures and processes. The resource-based view (RBV) of the firm combines two perspectives: A) the primary and support activities of the firm. Strategy is a pattern of resource allocation choices and organizational arrangements that result frommanagerial decision making. Capacity for innovation Organizational routines d. Production equipment. b. A resource that is valuable and rare but that can be imitated, for example, might provide an edge in the short term, but competitors can eventually overcome such an advantage. C) marketing expertise increasing a firm's revenues and enabling it to enter new markets. This video is the song That Thing You Do! by the Wonders. turning over an organizational activity to an outside supplier. Do you believe most, You work for an organization that has traditionally been very formalized, and managers have had a very broad span of control over direct reports from multiple departments and functions. A firm's tangible resource includes which of the following? Some resources, such as cash and trucks, are not considered to be strategic resources because an organizations competitors can readily acquire them. Low cost Cost leaders must maintain their marketing or face the possible entry of more cost-effectivecompetitors. ~~~~~\text{Newspapers. Consider the market for minivans. A firm's tangible resource includes which of the following?a. Learn more about how Pressbooks supports open publishing practices. Question 5 A firm's tangible resource includes which of the following? True B. Experts are tested by Chegg as specialists in their subject area. Use the Kujawas expense summary to answer the question. \end{array} O - Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to aparticular market niche The three key types of resources that are central to the resource-based view of the firm are: A) tangible resources, intangible resources, and organizational structure. \text{EXPENDITURES FOR THE MONTH OF JULY} Despite having three of the four properties of strategic resources, water in the United States has remained cheap; however, this may be changing. B) Motorola has revised its compensation system to reward employees who learn a variety of skills. Southwest Airlines, for example, has developed the capability of providing excellent customer service by building on its strong organizational culture. Southwests culture arose from its very humble beginnings and has evolved across decades. b. When the bands usual drummer has to miss a gig due to injury, the door is opened for charismatic drummer Guy Patterson, whose energy proves to be the final piece of the puzzle for The Wonders. Executives who wish to achieve long-term competitive advantages should therefore place a premium on trying to nurture and develop their firms intangible resources. A) By employing JIT inventory systems, Hewlett Packard has been able to cut lead time from five days to one. Resources that do not have all four qualities can still be very useful, but they are unlikely to provide long-term advantages. 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . EXPENDITURESFORTHEMONTHOFJULY\begin{array}{c} firms that execute the design blueprints provided by western firms. Planning In comparing the two types of resources, intangible resources are more likely to meet the criteria for strategic resources (i.e., valuable, rare, difficult-to-imitate, and organized to capture value) than are tangible resources. Design/methodology/approach A cross-sectional survey research design was used in the study. Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche. ~~~~~\text{Water bill} & & 24.50 & 31.70\\ Advertising is a ______activity. A US firm has outsources its textile manufacturing to aBangledesh for the last 10 years. B) interpersonal relations among a firm's managers. \text{Fixed} \\ Historical comparisons are often misleading. b. The influence of Southwests organizational culture extends to how customers are treated by employees. A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. ___________ are associated with collecting, storing, and distributing the product or service to buyers. Low entry barriers A firm's tangible resource includes which of the following? B) psychographic uniqueness, path dependency, causal ambiguity, and substitutability. The contribution of tangible and intangible resources, and capabilities A key benefit of Southwests culture is that it leads employees to treat customers well, which in turn creates loyalty to Southwest among passengers. Selected Answer: a.Production equipment Answers: a.Production equipment b.Organizational routines c.Capacity for innovation 4 out of 4 points4 out of 4 points 4 out of 4 points 4 out of 4 points. Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. Tangible resources include all except which of the following? b. Ideally, a firm will its own resources, like Southwests culture, that embrace the four VRIO qualities shown in Table 4.1. \end{array} A useful tool for taking stock of organizational capabilities is the ______________. Resources and capabilities are the basic building blocks that organizations use to create strategies. The airline had so little money that at times it had to temporarily borrow luggage carts from other airlines and put magnets with the Southwest logo on top of the rivals logo. D. T or F The major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumer group is: a. Concentric diversification One key reason is a legendary organizational culture that inspires employees to do their very best. A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics.

Operation Spartan Shield Campaign Medal, Dunkirk Observer Police Reports, Articles A