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Chapter Quiz
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1
Michael Porter argues that management innovations such as total quality, benchmarking, and business process reengineering can lead to sustainable competitive advantage.
A)True
B)False
2
Strategic management involves the recognition that both effectiveness and efficiency must be fully satisfied.
A)True
B)False
3
The final realized strategy of any firm is a combination of deliberate and emergent strategies.
A)True
B)False
4
The resource-based view is another name for a SWOT analysis.
A)True
B)False
5
Path dependency means that resources are unique and therefore scarce because of all that has happened along the path followed in their development.
A)True
B)False
6
One of the four key attributes of strategic management include
A)directing the organization toward overall goals and objectives.
B)including multiple stakeholders in decision making.
C)needing to incorporate short-term and long-term perspectives.
D)all of the above.
7
The resource-based view of the firm suggests that the ability of a firm's resources to confer __________ cannot be determined without taking into consideration the broader competitive context.
A)positive SWOT analyses
B)an outstanding balanced scorecard
C)competitive advantages
D)a high stock price
8
The resource-based view of the firm is a very useful framework for gaining insights as to
A)what the stock price will be over the next quarter.
B)how satisfied customers will be.
C)why some competitors are more profitable than others.
D)if the vision of the firm is accurate.
9
One example of an organizational capability is
A)firm competencies or skills the firm employs to transfer inputs to outputs.
B)experience and capabilities of employees.
C)firm trade secrets.
D)All of the above are organizational capabilities.
10
Which of the following is a criterion for assessing sustainability of resources and capabilities?
A)resource value
B)difficulty in finding a substitute for the resource
C)resource rarity
D)All of the above are criteria for assessing sustainability of resources and capabilities.





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