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

In assessing its primary activities, an airline would examine. al., 2010). Question 5 A firm's tangible resource includes which of the following? : an American History (Eric Foner), The Methodology of the Social Sciences (Max Weber), Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham). The purpose of this paper is to investigate the relative contribution of tangible resource (TR) and intangible resource (IR), and capabilities on firm performance based on the measures of market share, sales turnover and profitability. B. Coca-Cola has an uncanny knack for building new brands and products as the soft-drink market evolves. (1991). ~~~~~\text{Emergency fund} & & 50.00 & 50.00\\ In working through the decision tree, once a no is obtained, there is no need to continue through the tree. A. D) Compare the financial ratios of firms in the company's strategic group. 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. C) the internal analysis of the firm as well as the external analysis of the industry and competitive environment. To most individuals, cash is an important resource. Consider how Southwest Airliness organizational culture serves as a strategic resource. d. Unique style Resources such as cash and vehicles are valuable, of course, but an organizations competitors can readily acquire them. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. 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. Southwest embraces a culture of fun for both its customers and employees. D) top management providing a key role in collaborating with important customers. Coca-Cola, for example, has an uncanny knack for building new brands and products as the soft drink market evolves. While resources refer to what an organization owns, capabilities refer to what the organization can do. O - A firm's tangible resource includes which of the following? Note that the decision tree is used to assess resources and capabilities, NOT a firms products, services, or the firm itself. 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. 2003-2023 Chegg Inc. All rights reserved. How should managers assess changes in their firm's competitive position in their industries during a period of unusual economic growth? Since the firm has two units of capital, the firm's total fixed cost is$20. Strategy formulation is an essential component of the POLC framework: a. d. Moderate to high rivalry Southwest Airliness culture provides the firm with uniquely strong employee relations in an industry where strikes, layoffs, and poor morale are common. ~~~~~\text{Gasoline purchases} & & 85.00 & 101.70\\ Planning Cost leadership is a low-cost, broad-based market strategy. economics. Other difficult-to-imitate resources, such as brand names, usually need time to develop fully. 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. All Rights Reserved. Imagine that a U.S. car manufacturer builds a plant in Mexico, where labor is cheaper. 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. 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. Not surprisingly, this firm ranks among the top twelve in Fortunes Worlds Most Admired Companies for 2020. Option C is also incorrect here. B) financial resources, physical resources, and the capacity to combine intangible resources. The balanced scorecard provides top managers with a _____________ view of the business, The balanced scorecard developed by Kaplan and Norton helps to integrate. Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels. BUS 1101 - unit 5 self Quiz - A firm's strategy includes - Studocu Workers at the Cambodian plant produce the clothing according to the European firm's designs and specifications. Low entry barriers Figure 4.3: Kindred Grey (2020). The table below presents the output and input levels: Also assume that the per unit cost of capital is $10. A resource is valuable to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats. What will happen to bond prices if terrorism ended and the world's nations unilaterally disarmed and adopted free trade policies? 2020-2023 Quizplus LLC. The contribution of tangible and intangible resources, and capabilities The XYZ Corp. is taking advantage of a ____________ system. ~~~~~\text{Rent} & & 625.00 & 625.00\\ Which of the following is considered an intangible resource? Wernerfelt, B. In the case of on-time arrival capability, Southwest Airline enjoys a temporary competitive advantage (the third line), but it is not that difficult for rivals to imitate this ability. C) supports both individual primary and support activities and the entire value chain. Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations? Captures how vision and mission will be achieved. ___________ are associated with collecting, storing, and distributing the product or service to buyers. D) the effectiveness of its lobbying activities. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. Superiority in competitive advantage refers to all of the following factors EXCEPT: Organizing All of the following are tangible resources EXCEPT:- A. ~~~~~\text{Heating fuel} & & 50.00 & 15.00\\ Captures how vision and mission will be achieved. Superiority in competitive advantage refers to all of the following factors: 1) Customer service. C) Organizational routines. False Advertising is a ______activity. ~~~~~\text{Furniture} & & 125.00 & 125.00\\ Because of this unusual history, other airlines could not replicate Southwests culture, regardless of how hard they might try. One key reason for their success is a legendary organizational culture that inspires employees to do their very best. This culture is also rare in that strikes, layoffs, and poor morale are common within the airline industry. C) criteria for lease versus purchase decisions. To help them develop an environment in which knowledge is widely spread across all, employees, some organizations have created the new upper-level managerial position of. b. ~~~~~\text{Dining out} & & 100.00 & 63.80\\[10pt] A) physical uniqueness, path dependency, causal ambiguity, and social complexity. If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will Consider the market for minivans. How do management and employee self-service portals improve organizational efficiency? If we assume an increase in Investments by 100 units, please calculate again the IS-LM functions.c. managers should focus exclusively on the current market environment. What are original equipment manufacturers (OEMs)? c. Strong competitive threats from product substitutes When a company's resources are valuable but not rare, the company is said to have which element? All Rights Reserved. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ C) Compare the financial ratios of all firms in the country's industrysome of whom serve very diverse market segments and have specialized accordingly. Capabilities are another key concept within resource-based theory. : In the airline industry, is Southwests culture hard to imitate? Some firms develop a dynamic capability. Other resources are hard to copy because they evolve over time and they reflect unique aspects of the firm. Southwest Airlines, for example, has developed the capability of providing excellent customer service by building on its strong organizational culture. B) Compare the firm's financial ratios over the most recent one-year period. Which of the following is a support activity? b. Hierarchical diversification Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following? The balanced scorecard enables managers to consider their business from all of the following perspectives except. Strategic Ch. 4 Flashcards | Quizlet (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. Southwest Airlines Boeing 737 Lonestar One (N352SW) at LAS in November 2005. CC BY 2.0. Course Hero is not sponsored or endorsed by any college or university. B) Motorola has revised its compensation system to reward employees who learn a variety of skills. 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. ~~~~~\text{Cable TV bill} & & 25.00 & 25.00\\[10pt] Gillette combines several technologies (e.g., metallurgy, physiology, physics) to attain unparalleled success in the wet shaving industry. ______________ are assets that can be seen and quantified. Trading in strategic resources: Necessary conditions, transaction cost problems, and choice of exchange structure. The Wonders-That Thing You Do! C) financial resources, physical resources, and technological resources. Resources and capabilities are the basic building blocks that organizations use to create strategies. What are the degrees of freedom for b. Which of the following would be most difficult to assess? What is this an example of. One key reason is a legendary organizational culture that inspires employees to do their very best. Capabilities tend to arise over time as a firm takes actions that build on its strategic resources. Physical assets such as a firm's property, plant, and equipment, as well as cash, are considered to be tangible resources. \text{Expenses} & & \text{Budgeted} & \text{Spent}\\[10pt] 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. https://commons.wikimedia.org/wiki/File:Southwest_737_Lonestar_One.jpg, https://commons.wikimedia.org/wiki/File:The_VRIO_Framework_with_numbers.png, Next: 4.4 Intellectual Property & Isolating Mechanisms, Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. Captures how vision and mission will be achieved, O - A firms tangible resource includes which of the following? 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? Not surprisingly, Coca-Cola ranks among the top twelve in Fortunes Worlds Most Admired Companies for 2020. C) Every organization has a routine that it follows for its procedures and processes. Superiority in competitive advantage refers to all of the following factors EXCEPT: Where does strategy formulation fit within the POLC framework? Resources can be divided into two main types: tangible and intangible. Intangible resources include, for example, the knowledge and skills of employees, a firms reputation, and a firms culture. Intangible resources include, for example, the knowledge and skills of employees, a firm's reputation, brand name, exclusive rights . Those resources and capabilities that provide a significant competitive advantage are referred to as what? A key benefit of Southwests culture is that it leads employees to treat customers well, which in turn creates loyalty to Southwest among passengers. Before long, The Wonders perform on television and That Thing You Do! is a top-ten hit record. Low entry barriers why? 12.-. \text{Personal}\\ B) the interrelationships among the primary activities of the firm and corporate management. According to value chain analysis, which of the following would be considered part of a firm's infrastructure? B) effective information systems contributing significantly to a firm's overall cost leadership strategy. 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. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. If not then culture provides Southwest with a temporary competitive advantage over its rivals, but competitors can imitate it. a process through which unique products that command high prices and high margins gradually lose their ability to do so. Such competitive advantages are based upon. Southwests culture arose from its very humble beginnings. Another is guitarist Lenny Haise, whose fun attitude reigns in the enigmatic Mattingly. Want to create or adapt books like this? Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. Cross), The Methodology of the Social Sciences (Max Weber), Civilization and its Discontents (Sigmund Freud), Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Give Me Liberty! competitiveness and earn above-average returns includes which of the following? Power or employees 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. Although the airline industry is extremely competitive, Southwest Airliness turns a profit virtually every year. Resource-based theory can be confusing because the term resources is used in many different ways within everyday common language. 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. b. B) Capacity for innovation. Which of the following examples demonstrates how successful organizations manage their primary activities? Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? Production equipment O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? 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. 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Planning The particular bundles of resources and capabilities that provide unique advantages to the, Core competencies are resources and capabilities that serve as a source of a firms. O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? Do firm resources and capabilities add value? C) financial resources, physical resources, and technological resources. Instead, capabilities are needed to bundle, to manage, and otherwise to exploit resources in a manner that provides value added to customers and creates advantages over competitors. d. To spread out risk and opportunities over a larger set of businesses Review the material in Chapter 20 and respond to the following: Discuss the modern quantity theory and the liquidity preference theory. Acknowledged by top management C) rare, valuable, inimitable, nonsubstitutable. B) minimized idle production facilities and workers. 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. Tangible resources can be understood as the resources of a company that can be seen, and measured and are physical in nature. Strategy formulation answers the question. Which of the following forms of diversification occurs when a firm operates multiple. Organizational routines d. Production equipmentd; Easy (Comprehension) 3. View the full answer. The best strategies, corporate and business, are based on a thorough SWOT analysis. d. Top-down process : a. The Cambodian plant is an example of which type of business? C. physical resources, such as the company's brand, image, and reputation . If yes, go to number 2. a. For the event listed here, identify which of the determinants of demand or supply are affected. If not, then it still only provides a temporary competitive advantage. ExpensesFoodHouseholdElectricbillTelephonebillHeatingfuelWaterbillCableTVbillTransportationGasolinepurchasesParking/tollsPersonalClothingCreditpaymentsNewspapers. 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. What was the result? Option A is incorrect here. True A firm's tangible resource includes which of the following? 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . The VRIO Framework with numbers. CC BY-SA 4.0. firms that execute the design blueprints provided by western firms. D) the industry and the competitive environment. 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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. B) the cost to the firm of replacing them is high. Learn more about how Pressbooks supports open publishing practices. A companys value derives not from things, but from ____________. Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. d. Horizontal diversification D. At Intel the key historic decision to abandon memory chips and concentrate upon microprocessors was the result of which of the following? 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. Satisfying only one or two of the valuable, rare, difficult-to-imitate, organized to capture value criteria will likely only lead to competitive parity or a temporary advantage. Suppliers and buyers with little bargaining power (1984). Tangible resources are resources that can be readily seen, touched, and quantified. The source of Ardent's success is causally ambiguous. Strategic Planning . \text{Fixed} \\ B) rare, inimitable, physically unique, nonsubstitutable. Choose question tag. What kind of competitive advantage, if any, does this capability provide? _____________ 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 _____________. What is the firm's secret competitive advantage? 5 Option A 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. Strategic Management Journal, 5, 171180. Is Southwests culture rare within the airline industry? C) financial analysis and stakeholder perspectives. b. The following are examples of socially complex organizational phenomena except. D) the firm's resources are path dependent. When the talent show audience goes crazy in response, it marks the beginning of a meteoric rise for both the song and the band. All of the following except which example is a reason that relentless imitation can be a dangerous practice? By how much? Chi, T. (1994). 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. If not, all the effort to develop it is a waste of resources and a competitive disadvantage. 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. On occasion, events in the environment can turn a common resource into a strategic resource. Which of the following is a primary activity? O - Not all organizations need strategies to survive and thrive. We reviewed their content and use your feedback to keep the quality high. RARE resources are those held by few or no other competitors. It. A) rare, valuable, mobile, nonsubstitutable. A firm's strategy includes which of the following? Power of stockholders Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche. C) National Steel improved its efficiency by consolidating, reducing the number of job classifications, and broadening worker responsibilities. B) psychographic uniqueness, path dependency, causal ambiguity, and substitutability. Verified answer. Processes related to passengers are infused with customer service attention and actions. Solved 11.- All of the following are tangible resources - Chegg Humans simply cannot live without water, so water has inherent value. 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. XYZ Corp. is focusing on the objective of low-cost, high quality, on-time production by minimizing idle productive facilities and workers. 1.3 Intended, Emergent, and Realized Strategies, 1.5 Contemporary Critique of Strategic Management, 1.6 Understanding the Strategic Management Process, 3.2 The Relationship between an Organization and its Environment, 4.4 Intellectual Property & Isolating Mechanisms, 6.2 Understanding Business-Level Strategy through "Generic Strategies", 6.5 Focused Cost Leadership and Focused Differentation, 7.6 Responding to Innovation in the Market, 8.6 Portfolio Planning and Corporate-Level Strategy, 9.2 Advantages and Disadvantages of Competing in International Markets, 9.5 Drivers of Success and Failure When Competing in International Markets, 9.6 Options for Competing in International Markets, 10.3 The Basic Building Blocks of Organizational Structure, 10.4 Creating an Organizational Structure, 10.5 Creating Organizational Control Systems, 11.4 Corporate Ethics and Social Responsibility, 11.5 Contemporary Questions of Corporate Ethics. Which of the following is considered an intangible resource? Ans. What was the Kujawas total expenditure for the month of July? Figure 4.2: Planephotoman. False earn aboveaverage returns includes all of the following EXCEPT. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

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