Which of the following is a tangible reource?*. Course Hero is not sponsored or endorsed by any college or university. The influence of Southwests organizational culture extends to how customers are treated by employees. Strategic Ch. 4 Flashcards | Quizlet A resource that has three or less of the qualities can provide an edge in the short term, but competitors can overcome such an advantage eventually. O - Strategy formulation is an essential component of the POLC framework: Power or employees Low entry barriers Knowledge d. To spread out risk and opportunities over a larger set of businesses 2) Product quality. 2003-2023 Chegg Inc. All rights reserved. \text{Transportation}\\ Customer service A companys value derives not from things, but from ____________. Transcribed image text: 5. False Please Explain, What is the relationship between enterprise information management and self-service portals? A. B) Capacity for innovation. D) gains in financial performance and customer satisfaction must often come at a cost of employee satisfaction. It is an intangible part of the company. Option D is the right choice here. Recently, shareholders have been vocal about the importance of products made in the US. _____________ include assets that are deeply rooted in the firms history and have, The firms capacity to deploy resources that have been purposely integrated to achieve a. desired end state are called _____________. why? c. Extensive market research illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. 6/28/2017 Chapter 5 Quiz: MAN3025 RVEB 1175 4 / 4 ptsQuestion 6 In the value chain, which of the following activities is deemed to add direct value to a firm? than firms pursing a cost leader strategy. C) marketing expertise increasing a firm's revenues and enabling it to enter new markets. Other resources are hard to copy because they evolve over time and they reflect unique aspects of the firm. In other words, describe a management practice from the course content relating to each of the four functions of management. What are original equipment manufacturers (OEMs)? Not all organizations need strategies to survive and thrive. ______________ are assets that can be seen and quantified. \text{EXPENDITURES FOR THE MONTH OF JULY} Before long, The Wonders perform on television and That Thing You Do! is a top-ten hit record. Strategy formulation is an essential component of the POLC framework: a. Organizing A) KnowledgeB) Capacity for innovationC) Organizational routinesD) Production equipment. Solved 11.- All of the following are tangible resources - Chegg : 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. How should managers assess changes in their firm's competitive position in their industries during a period of unusual economic growth? a process through which unique products that command high prices and high margins gradually lose their ability to do so. Correct Answer: Explore answers and other related questions. O - One approach to focusing is to service either industrial buyers or consumers, but not both, Strategic management process is the coordinated means by which an organization chooses itsmission and vision. ~~~~~\text{Rent} & & 625.00 & 625.00\\ 3) Unique style. A firms strategy includes which of the following? B, a. D) reputation with suppliers and customers. Build the IS-LM function.b. Ans. Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors. B) need to maintain the reputation of the company. b. Principles of Management, Chapter 5 Flashcards | Quizlet Strategic Planning . Cost leaders must maintain their marketing or face the possible entry of more cost-effectivecompetitors. Verified answer. Use the Kujawas expense summary to answer the question. 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Southwest embraces a culture of fun for both its customers and employees. This is an example of which concept? Instead, a resource is strategic to the extent that it is valuable, rare, difficult to imitate, and organized to capture value. Imagine that a U.S. car manufacturer builds a plant in Mexico, where labor is cheaper. This too is intangible in nature, making Option B an incorrect choice. B) effective information systems contributing significantly to a firm's overall cost leadership strategy. According to resource-based theory, one possible road to riches is creatingon purpose or by accidenta unique combination of resources. Capabilities are needed to bundle, to manage, and otherwise to exploit resources in a manner that provides added value to customers and creates advantages over competitors. This worked, A number of things organizations can do prior to change to prepare employees include which of the following? How can the members of an organization reach success doing that thing they do? a. If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will ~~~~~\text{Parking/tolls} & & 15.00 & 15.00\\[10pt] Coca-Cola has an uncanny knack for building new brands and products as the soft-drink market evolves. Design/methodology/approach A cross-sectional survey research design was used in the study. economics. A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. Competitors have a hard time duplicating resources that are difficult to imitate. B. 2020-2023 Quizplus LLC. A firm's strategy includes which of the following? the K-W test? c. Strong competitive threats from product substitutes If not then culture provides Southwest with a temporary competitive advantage over its rivals, but competitors can imitate it. Some firms develop a dynamic capability. ~~~~~\text{Life/car insurance premiums} & & 132.50 & 132.50\\ Want to create or adapt books like this? D) the industry and the competitive environment. Planning d. Top-down process Retrieved from https://commons.wikimedia.org/wiki/File:Southwest_737_Lonestar_One.jpg. 11.-. Another is guitarist Lenny Haise, whose fun attitude reigns in the enigmatic Mattingly. BUS 1101 Ch. 5 Flashcards | Quizlet earn aboveaverage returns includes all of the following EXCEPT. D) the firm's resources are path dependent. What was the result? Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations? It is not hard to imagine a day when companies in Maine make huge profits by sending giant trucks filled with water south and west or even by building water pipelines to service arid regions. Those resources and capabilities that provide a significant competitive advantage are referred to as what? T or F Low entry barriers managers should focus exclusively on the current market environment. For firms such as Walgreen Co. (a chain of drugstores), information systems have been a source of competitive advantage by enabling them to. False See Page 1. By how much? (review sheet 4), The tenpoint plan of the new world order-1, Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, The text defines stakeholders as: Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does (Carpenter et. B) the key emphasis on customer satisfaction and financial goals are only a means to that end. c. Gobal economic conditions The contribution of tangible and intangible resources, and capabilities \text{Household} & & & \\ d. Unique style The table below presents the output and input levels: Also assume that the per unit cost of capital is $10. Receive an answer explained step-by-step. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. Other airlines could not replicate Southwests culture, regardless of how hard they might try, because of Southwests unusual history. B) the interrelationships among the primary activities of the firm and corporate management. Option C is also incorrect here. This means that a firm has a unique ability to create new capabilities. Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. there are several forces for organizational change: workplace demographics, technology, globalization, market conditions, growth, and poor performance. A firms tangible resource includes which of the following a - Studocu (1984). Thus an organization cannot hope to create an enduring competitive advantage around common resources. Experts are tested by Chegg as specialists in their subject area. All of the following are tangible resources EXCEPT:- A. A resource-based view of the firm. B) financial resources, physical resources, and the capacity to combine intangible resources. B) Compare the firm's financial ratios over the most recent one-year period. To satisfy the mission and vision 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. The balanced scorecard enables managers to consider their business from all of the following perspectives except. Strategy formulation answers the question. 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. Which of the following lists consists of support activities: A) human resource management, technology development, customer service, and procurement, B) human resource management, customer service, marketing and sales, and operations, C) human resource management, information systems, procurement, and firm infrastructure, D) customer service, information systems, technology development, and procurement, Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. Firms often bundle together multiple resources and strategies (that may not be unique in and of themselves) to create uniquely powerful combinations. Southwest is a rags to riches story that has evolved across several decades. Production equipment 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. Provide employees with HR support in the event they choose to leave the. What was the Kujawas total expenditure for the month of July? 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 In a 300-500 word Learning Journal, identify a management principle or method from the course for each of the four functions of management. What is this an example of. D) supports mostly support activities but does have some impact on primary activities. a. BUS 1101 - unit 5 self Quiz - A firm's strategy includes - Studocu Also, water cannot be imitated (at least not on a large scale), and no other substance can substitute for the life-sustaining properties of water. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ Resources that can be readily seen, touched, and quantified, such as cash or equipment, Resources that are not physical, like a firms reputation, a patent, or employee knowledge, Resources that provide an organization with an opportunity to develop competitive advantages over its rivals. The resource-based view (RBV) of the firm combines two perspectives: A) the primary and support activities of the firm. 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. As can be seen from its exceptional organizational performance over many years when compared to other airlines, VRIO shows that company culture is one reason why it is more successful than its competitors. D) the effectiveness of its lobbying activities. In the value chain, which of the following activities is deemed to add direct value to a firm? C. "Afirm's reputation D. Afirm's headquarters building. Superiority in competitive advantage refers to all of the following factors EXCEPT: Where does strategy formulation fit within the POLC framework? If not, then it still only provides a temporary competitive advantage. ~~~~~\text{Credit payments} & & 50.00 & 41.74\\ The source of Ardent's success is causally ambiguous. A firm's strategy includes which of the following: a. ~~~~~\text{Pocket Money} & & 60.00 & 72.00\\[10pt] True Learn more about how Pressbooks supports open publishing practices. The intersection of IS-LM functions defines four areas. C) Organizational routines. C) rarity, path dependency, causal ambiguity, and social substitutability. Captures how vision and mission will be achieved. Quiz 4 Flashcards | Quizlet In determining stakeholders who should be consulted as strategy is developed, companies often develop an incomplete list. d. Controlling Resources can be divided into two main types: tangible and intangible. 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. ___________ are associated with collecting, storing, and distributing the product or service to buyers. Executives who wish to achieve long-term competitive advantages should therefore place a premium on trying to nurture and develop their firms intangible resources. 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. B) culture, tangible resources, intangible resources. 5 Option A Explanation: Tangible resources have a physical form, t . Cost leadership is a low-cost, broad-based market strategy. Study with Quizlet and memorize flashcards containing terms like A firm's tangible resource includes which of the following?, A firm's strategy includes which of the following:, T or F: Not all organizations need strategies to survive and thrive. Low cost The following are examples of socially complex organizational phenomena except. competitiveness and earn above-average returns includes which of the following? 12 Test Bank - Gould's Ch. You can view this video here: https://youtu.be/BJn-Jl2ZeQU. Ans. Resource-based theory can be confusing because the term resources is used in many different ways within everyday common language. The best strategies, corporate and business, are based on a thorough SWOT analysis. A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the. A) physical uniqueness, path dependency, causal ambiguity, and social complexity. Power of stockholders Southwests culture arose from its very humble beginnings. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ If not, all the effort to develop it is a waste of resources and a competitive disadvantage. C) Every organization has a routine that it follows for its procedures and processes. True or False Please explain, Artifacts reflecting values of an organization include, The foundation of many capabilities lies in the skills and knowledge of a firm's stockholders A. Chi, T. (1994). For the event listed here, identify which of the determinants of demand or supply are affected. Capabilities are important in part because they are how organizations capture the potential value that resources offer. This culture is also rare in that strikes, layoffs, and poor morale are common within the airline industry. Please analyze the behavior of the markets for goods and money for each area.Cite references to material that you use in preparing the essay. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. : a. It has observed as much of the firm's internal functioning and technology as it can legally, yet Gamma cannot understand why Ardent has a competitive advantage over it. Which of the following is not a reason to understand social complexity? Humans simply cannot live without water, so water has inherent value. Consider how Southwest Airliness organizational culture serves as a strategic resource. O - A firm's tangible resource includes which of the following? EXPENDITURESFORTHEMONTHOFJULY\begin{array}{c} \text{Expenses} & & \text{Budgeted} & \text{Spent}\\[10pt]

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