1) Resources in the resource-based view (RBV) are defined as tangible and intangible assets that a
firm controls. All of the following are examples of a firm’s resources EXCEPT __________.
A.
capabilities
B.
reputation
C.
teamwork
D.
factories
E.
products
2. Broad categories of resources and capabilities do NOT include __________.
A.
organizational resources
B.
human resources
C.
financial resources
D.
physical resources
E.
legal resources 3. Organization resources that a firm possesses include __________.
A.
planning and controlling within a firm
B.
experience and intelligence of individual managers
C.
geographic location and access to raw materials D.
computer hardware and software technology
E.
equity holders and entrepreneurs 4. In product design, if Apple continues to be more skilled than, say, IBM, then the assumption regarding
resources and capabilities is described as having __________. A.
financial resources
B.
resource heterogeneity
C.
resource immobility
D.
organization resources
E.
physical resources 5. If Mercedes has had its advantage in manufacturing for over 50 years, then the assumption regarding
resources and capabilities is described as having __________. A.
financial resources
B.
organization resources
C.
resource immobility
D.
resource heterogeneity
E.
physical resources 6. Questions needed to conduct resource-based analyses of a firm’s internal strengths and weaknesses
include all of the following EXCEPT __________. A.
the question of imitability
B.
the question of value
C.
the question of rarity
D.
the question of versatility
E.
the question of organization 7. The acronym VRIO in the VRIO framework does NOT include __________.
A.
the question of versatility
B.
the question of rarity
C.
the question of imitability
D.
the question of value
E.
the question of organization 8. Historically, Kodak had a great deal of experience in designing, manufacturing, and selling cameras.
Kodak used these resources and capabilities to exploit opportunities including offering film rolls,
instant cameras, and other photographic equipment. This is an example of applying __________. A.
the question of opportunity
B.
the question of rarity
C.
the question of organization D.
the question of imitability
E.
the question of value 9. One way to identify potentially valuable resources and capabilities controlled by a firm is to study
that firm’s __________. A.
value chain
B.
versatility
C.
organization
D.
rarity
E.
imitability 10. The answer to the question, "How many competing firms already possess particular valuable
resources and capabilities?" relates to __________ in the VRIO framework. A.
imitability
B.
value
C.
organization
D.
value chain
E.
rarity 11. The answer to the question, "Do firms without a resource or capability face a cost disadvantage in
obtaining or developing it compared to firms that already possess it?" relates to __________ in the VRIO
framework. A.
rarity
B.
imitability
C.
value
D.
value chain
E.
organization 12. The reasons why it is costly to imitate another firm’s resources or capabilities include all of the
following EXCEPT __________. A.
patents
B.
causal ambiguity
C.
social complexity
D.
unique historical conditions
E.
sustained competitive advantage 13. Both first-mover advantages and path dependence can create __________.
A.
sustained competitive advantage
B.
causal ambiguity C.
social complexity
D.
unique historical conditions
E.
patents 14. When competitors cannot tell, for sure, what enables a firm to gain an advantage, that advantage
might be costly to imitate. This situation is referred to as __________. A.
unique historical conditions
B.
causal ambiguity
C.
social complexity
D.
patents
E.
sustained competitive advantage 15. When the resources and capabilities a firm uses to gain a competitive advantage involve
interpersonal relationships, trust, culture and other resources that are costly to imitate in the short run, it is
referred to as __________. A.
unique historical conditions
B.
sustained competitive advantage
C.
causal ambiguity
D.
social complexity
E. patents 16. A source of sustained competitive advantage in pharmaceuticals industries is from __________.
A.
social complexity
B.
unique historical conditions
C.
temporary competitive advantage
D.
patents
E.
causal ambiguity 17. "Path dependence" is a process that can be a source of costly imitation listed under __________.
A.
causal ambiguity
B.
unique historical conditions
C.
sustained competitive advantage
D.
social complexity
E.
patents 18. The question of organization can be answered by all of the following observations
EXCEPT __________. A.
management control systems
B. organization chart
C.
compensation policies
D.
informal management controls
E.
social complexity 19. Complementary resources and capabilties of an organization that have limited ability to generate
competitive advantage in isolation include all of the following EXCEPT __________. A.
management control systems
B.
informal management controls
C.
patents
D.
compensation policies
E.
organization chart 20. If a resource or capability is valuable and rare but not costly to imitate, exploiting this resource will
generate __________ for a firm. A.
distinctive competence
B.
sustained competitive advantage
C.
competitive advantage
D.
temporary competitive advantage
E. competitive parity 21. What is "distinctive competence"?
A.
It is a competitive advantage that would be competed away.
B.
It refers to sustained competitive advantage.
C.
It is competitive parity.
D.
It is a competitive advantage.
E.
It refers to temporary competitive advantage. 22. As a part of competitive dynamics that exist in an industry, other firms can respond to the advantages
of a competitor in all of the following ways EXCEPT __________. A.
selling more of their specialty items
B.
limit the response
C.
ignore
D.
selling less of the competing items
E.
fundamentally altering strategies 23. Attributes of the industry structure that facilitate the development of "tacit cooperation" include all of
the following EXCEPT __________. A.
have high barriers to entry B.
have a market-share leader
C.
the industry must have homogeneous products and costs
D.
a small number of competing firms
E.
the industry must have heterogeneous products and costs 24. "Tacit collusion" occurs when __________.
A.
there are a small number of competing firms
B.
there are homogeneous products and costs
C.
a tacit cooperation has the effect of reducing supply and increasing prices
D.
a firm takes any action that have the effect of reducing rivalry
E.
a firm takes any action that does not require firms in an industry to directly communicate with each other 25. The RBV and the VRIO framework can be applied to individual firms to understand all of the following
EXCEPT __________. A.
to understand whether these firms will gain competitive advantage
B.
to understand whether these firms will have first-mover advantage
C.
to understand the sources of competitive advantages
D.
to understand threats and opportunity analyses
E. to understand how sustainable competitive advantages are likely to be
