For managers to guide a companys strategy successfully, they must first identify its ______.

Which of the following issues might be included on a managerial "worry list"

-how to deal with rivals reducing prices-how to respond to foreign competitors

-whether to acquire a rival company

An activity that a company performs poorly in a comparison to its competitors is an example of a competitive deficiency, or _______

T/F
a value chain system is defined as a company's own value chain combined with those of its suppliers but not those of its wholesale distributors,who deal with finished products.

A Capability that does not provide a sustainable competitive advantage

can provide a temporary advantage for entering a new market

To evaluate a firms _______ it is necessary to identify the firms capabilities and resources and then determine their quality.

the ability of a company to perform competently in carrying out a particular internal activity, such as product innovation or development, it is called a

A company's tangible resources, typically defines as resources that can be easily quantified, include which of the following?

- organizational resources-financial resources

-technological resources

patents and copyright are types of resources that are part of a company's

Which statements about a company's capabilities are true?

- One method of identifying capabilities starts with a survey of the functions performed within the company's resources
-one method of identifying capabilities starts with a survey of the functions performed within the company

Closely integrated competitive assets that are tied to one or more cross-functional capabilities are called ______

A company's ongoing ability to adapt and renew its competitive assets, capabilities and resources is referred to as a ___ capability

When a company is able to maintain its competitive edge despite competitors efforts to overcome it, the company is said to have achieved

a sustainable competitive advantage

a competitive asset owned or controlled by a company is referred to as a(n)

in addition to human resources, which of the following are intangible assets of a company?

-Reputation-Image

- its brands

As a Type of company resource, relationships include which of the following?

-dealer networks- partnerships

-joint ventures

Most of firms organizational capabilities can be characterized as being either of which two of the following

-being based on knowledge
-existing in a firms processes and systems

Capabilities that utilize various resources and result from collaboration across multiple departments, such as R&D, marketing, sales and manufacturing, are known as ______ capabilities

Which of the following factors contribute to the erosion of a company's competitive advantage over time?

-customer preferences-changes in technology

-distribution channels

A two step process for evaluating a company's competitive assets and its ability to compete successfully in the marketplace is known as _____ and ____ analysis

When company A's rivals have much higher competitive strength, company A is said to have a net competitive ______

the two main categories of activities in a company's value chain are ____ activities and support acclivities

There are times, such as the financial crisis of 2008-2009, when adverse market conditions can create______ that plunges a company into crisis and put its future in jeopardy

Which of the following accurately reflect the relationship between a company activities and its resources and capabilities?

- Continuous investment of resources in value chain activities leads to the creation of a competence- Prioritizing a competitive capability transforms it into a core competence

-Value -creating activities contribute to the formation and development of capabilities

In order for managers to guide a company's
strategy successfully, they must first identify its

Resources and capabilities are difficult for competitors to replicate when they

-are unique -required large-scale operations

-take time to build up

Something a firm does well or a quality it has that increases it competitiveness in the marketplace is a

The process of comparing the performance of numerous value chain activities across multiple types of companies to assess the cost and effectiveness of these activities is called

The clothing retailer Patagonia remains a competitive with a customer value proposition that focuses on which of the following ?

- corporate environmental responsibility
-high quality

How can managers improve a firms customer value proposition and enhance differentiation?

- Adopt best practices- Introduce new technologies

- relocate high-cost activities

A(n) ________ competence is a key activity that a company executes better than its rivals

When company resources and capabilities reflects a high level of social complexity?

-internal company culture-trust-based relations with customers

-interpersonal relationships between managers

a competitive strength assessment utilizes which of the following test of analyses?

- SWOT analysis -value chain analysis

-benchmarking

To improve a company's cost competitiveness, mage

-outsource activities -implement best practices throughout the company

-use new technologies to redesign products

A true capability of a company that is performed consistently well and at an acceptable level of cost is called a(n) ______

Threats to a company's profitability and competitive well being can arise from which of the following external factors

- the emergence of lower cost or improved technologies-burdensome new regulation

-unfavorable demographic shifts

The total amount a company spends on the primary and support activities that make up its value chain defines its

to be considered legitimate, a best practice must be unusually effective in which of the following ways?

-in improving performance -in lowering costs

-in enhancing safety

A companys strategy should always be based on

the companys internal strengths

Which of the following are aspects of customer value proposition that have allowed Patagonia to remain competitive with other outerwear companies with cheaper prices?

- wide selection-environmental commitment

-quality of merchandise

What techniques can a company use to identify its cost or value disadvantages when compared to key competitors

-value chain analysis
-benchmarking

Although it is an important way for a company to evaluate its business practices relative to other firms, the greatest barrier to benchmarkig is ____ the necessary information

A company's sales revenues minus the cost of goods sold, divided by the sales revenues, is called the company's___ margin

The value of performing a detailed competitive strength assessment is that it allows a company to

-Plan offensive and defensive strategies -address vulnerabilities

-pinpoint competitors relative weaknesses.

How can a company use the information it has gleaned from bechmarking and value chain analysis?

- Enhance competitiveness -improve profitability

-eliminate its own cost or value disadvantages

Debt to equity long term debt to capital, and total debt to assets are all examples of____ ratios

the value chains of a company's distribution-channel partners are significant because they directly affect which of the following ?

-sales volumes-retail prices

-customer satisfaction

A company is better able to fend of competition when it provides ____ than its rivals

What qualities help create differentiation based on quality, which improves a company's competitive advantage?

-status-innovation-design

-image

How can a company reduce cost disadvantages associated with supplier-related value chain activities?

-identify ways the company and suppose can both reduce costs- switch to less expensive materials

-negotiate lower prices from suppliers

how can a company enhance differentiation at the forward end of the value chain system?

-Set standards and train channel partners to implement them-participate in cooperative advertising

-offer incentives to downstream partners to enhance customer value

Aggressive price cutting to win customers away from a rival can be risky for which of the following reasons?

-Rivals with stronger relative cost positions might be able to better survive a price war
-other competitors might interpret such a move as an attack

the operating income of a company divided by its interest expenses is called the ___ ratio

How can a company use its supplier relationships to bolster its customers value proposition?

-Choose suppliers that have higher standards -offer suppliers quality-based incentives

-integrate suppliers into the design process

Which of the following are example of what can be learned form using value chain analysis

- The differences in how competitors perform specific activities-a company's capacity for differentiation

-the competitive differences between rivals

how can a company improve cost competitiveness on the distribution side of its value chain?

- Encourage forward channel allies to reduce their costs and markups-change to a more cost-effective distribution strategy

-collaborate with distributors to find win-win cost reduction strategies

Companies that have successfully managed their value chains to produce cost based market advantages include

- Nucor steel-carrefour

-ryanair

What analytic tools are helpful in evaluating the competitiveness of a company's cost and customer value proposition?

-benchmarking
-value chain analysis

which three of the following types of market opportunities are the most relevant for a company to pursue?

-Market opportunities that offer the best chances for profitability - market opportunities that offer the best chances for growth

- market opportunities that match up with the company's competitive assets

detailed examination of a company's value chain, including its customers value proposition and business model, allows for evaluation of which of the following ?

- Cost structure and pricing-capabilities that enhance differentiation

-profit margin