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This has MGT chapters but chapter 1 :( Terms in this set (41)According to value-chain analysis, a firm ______. is profitable when the value it receives exceeds total costs Inbound logistics includes which of the following processes? material handling returns to suppliers warehousing Operations includes which of the following activities? testing machining packaging Procurement activities include the purchase of which of the following? raw materials office equipment machinery When addressing the value-chain concept, it is important to focus on the interrelationship between the organization and its most important stakeholders, which are ______. customers Which type of analysis views the organization as a sequential process of value-creating activities? value-chain
______ is associated with receiving, storing, and distributing product inputs. Inbound logistics The ______ view of the firm states that a firm's competitive advantages are due to its endowment of strategic resources that are valuable, rare, costly to imitate, and costly to substitute. resource-based ______ includes all activities associated with transforming inputs into the final product. Operations ______ refers to the function of purchasing inputs used in the firm's value chain. Procurement Which of the following are potential outcomes that may be realized by including customers' point of view in actual production? general innovative ideas that may lead to cost-savings decreased costs due to customer feedback greater customer satisfaction and loyalty The application of value-chain activities is easily applied to service organizations when one understands ______. the focus is on adding value for customers ______ resources are organizational assets that include physical and financial assets and are relatively easy to identify. Tangible The resource-based view of the firm combines which of the following perspectives? the company's internal analysis an external analysis of the industry and its competitive environment Which attributes must a resource have to provide a firm with a sustainable competitive advantage? ability to exploit opportunities have no substitutes be rare among competitors ability to exploit opportunities machinery raw materials office equipment Resources are only rare when other companies ______. do not possess the same valuable resource Which of the following are examples of tangible resources? cash equipment Resources that competitors can easily imitate generate ______. temporary value Which of the following are examples of physical uniqueness? a beach resort location on a one-of-a-kind island a company's mineral rights patented products that cannot be copied Strategic resources must meet four criteria in order for them to provide a firm with the potential for a ______ competitive advantage. sustainable Resources that not many firms possess are known as ______ resources. rare Which of the following are reasons why competitors have difficulty imitating resources that were developed over time? They cannot go out and buy these resources quickly and easily. Their uniqueness is due in part to all that happened along the path of development. Resources that are valuable, rare, difficult to imitate, and do not have substitutes provide a firm with a ______. sustainable competitive advantage Which of the following are ways that resource inimitability (difficulty to imitate) is a key to value creation? It constrains competition. It makes profits more likely to be sustainable. It creates a barrier to entry. Which of the following help to explain the extent to which employees and managers may be able to obtain a proportionately high level of generated profits? manager bargaining power employee exit cost employee replacement cost employee bargaining power ______ is the first source of resource inimitability due to being inherently difficult to copy. Physical uniqueness The stakeholder view takes a(n) ______ approach than the financial ratio analysis in evaluating the firm. broader Resources are valuable only when they enable a firm to ______ formulate and implement strategies that improve its efficiency or effectiveness Which of the following are among the five types of financial ratios that are used to analyze a firm's performance? short-term and long-term solvency measures profitability and market value ratios asset management ratio ______ is a characteristic of resources that is developed and/or accumulated through a unique series of events. Path dependency True or false: The only thing a firm needs to achieve a sustainable competitive advantage is a resource that is difficult to imitate. False ______ is a method of evaluating a firm's performance using performance measures from four perspectives: customer, internal, innovation and learning, and financial. Balanced scorecard When employees are essential to a firm's unique capabilities, they will earn higher wages and also have more ______. bargaining power Two approaches to evaluate firm performance include which of the following? financial ratio analysis stakeholder view (balance scorecard) ______ is a technique for measuring the performance of a firm according to its balance sheet, income statement, and market valuation. Financial ratio analysis Which of the following statements about using the balanced scorecard method of evaluating a firm's performance are true? It takes into account organizational innovation and learning perspective. It provides managers with a fast but comprehensive view of the business. It includes financial and customer satisfaction measures. Internal business perspective measures should focus on the ______ processes that have the greatest effect on customer satisfaction. business Which of the following are the key categories of customer concerns? cost of the good or service performance and service time and quality The ______ perspective involves measures of firm performance that indicate how well a firm's internal processes, decisions, and actions are contributing to customer satisfaction. internal business ... ... Sets with similar termsCH 4 - Internal Analysis: Resources, Capabilities…34 terms maryswimmer111 UNCW INB 300 Chapter 440 terms marissa_a_parks INB 300 Exam 240 terms maddy_thompson619 INB 300 Exam 240 terms lmiller29 Other sets by this creatorLearning checkz54 terms MSU_SCM SCM 303 Exam 2 (Chapter 7), SCM 303 (Chapter 8), S…152 terms MSU_SCM SCM 303 Exam 2 (Chapter 7), SCM 303 Exam 2 (Chapte…123 terms MSU_SCM MKT 300 Exam 2 Ch. 7, 8, 9, 10, 119 terms MSU_SCM Other Quizlet setsTed Bundy & Jeffrey Dahmer's Circle47 terms PROFESSOR-JMONEY Biology100126 terms dmy8372 Which of the following types of organization can most benefit from value chain analysis?Which of the following types of organizations can most benefit from value chain analysis? All types of organizations can benefit from value chain analysis. Sustainability is the balancing of short and long term goals in all three dimensions of the company's performance.
During which step of value chain analysis will the company discover?During which step of value chain analysis will the company discover whether or not it has a cost advantage, and why? During the second step, when the firm develops a competitive advantage by either reducing cost or adding value.
Which of the following is an example of a staff position in an organization?Examples of staff positions are accounting, finance, purchasing, management information systems, and taxation.
Which of the following perspectives of a balanced scorecard would most likely be the ultimate goal in a strategy map for a public company?Which of the following perspectives of a Balanced Scorecard would most likely be the ultimate goal in a strategy map for a public company? Financial performance.
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Which of the following types of organizations can most benefit from value chain analysis quizlet?
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