Question 1

The activity of comparing a company's resources and capabilities with those of a leading company in the industry is also known as:&#10;A)Competitor intelligence&#10;B)Competitor analysis&#10;C)VRIO analysis&#10;D)Benchmarking

Accepted Answer

Benchmarking involves comparing a company's performance, processes, and resources with those of a leading company in the industry to identify areas for improvement. Therefore, D is the best choice for this question. Choices A and B are similar but refer specifically to the analysis of competitors' strategies and capabilities rather than a comparison with a leading company. Choice C refers to a specific framework for assessing a company's resources and capabilities.

Question 2

The term 'offshore outsourcing' refers to:&#10;A)Relocating production to an independent firm abroad&#10;B)Establishment of oil wells offshore, e.g.in the North Sea or the Gulf of Mexico&#10;C)Relocating production to a subsidiary abroad&#10;D)Nothing really because the two words mean the same thing

Accepted Answer

Offshore outsourcing refers to the practice of hiring an organization outside one's own country to perform services or create goods that traditionally were performed in-house or within the country. This is often done to reduce costs or access skills that are not readily available domestically.

Question 3

Industry 6.0 refers to the application of advances in information technology and data analytics to achieving better integration of manufacturing processes.

Accepted Answer

Industry 6.0 has not been officially defined as the current phase is Industry 4.0, which focuses on the integration of digital technologies into manufacturing. Industry 5.0 is beginning to be discussed, emphasizing collaboration between humans and smart systems.

Question 4

The resource-based view focuses on the external environment of the firm.

Accepted Answer

The resource-based view of the firm focuses on the internal resources and capabilities of the firm, rather than the external environment.

Question 5

Which of the following statements about business process outsourcing (BPO)is not correct?&#10;A)BPO is used specifically when outsourcing services to India&#10;B)A major motivation for BPO is to reduce costs&#10;C)An important motivation for BPO is to tap into suppliers' competences&#10;D)None of the above

Accepted Answer

BPO is not specific to outsourcing services to India but can be applied to outsourcing services to any country or region. BPO refers to the contracting of specific business functions or processes to an external service provider.

Question 6

Nearshoring refers to the co-location of product development and manufacturing in nearby locations, for instance within the same industrial park.

Accepted Answer

Nearshoring refers to the practice of transferring a business operation to a nearby country, rather than to a more distant country, to take advantage of geographical proximity, cultural similarities, or time zone alignment, rather than co-locating development and manufacturing in the same industrial park.

Question 7

Which of the following is not a question asked as part of a VRIO analysis?&#10;A)Does the resource add value?&#10;B)Is the resource rare?&#10;C)Is the resource intangible?&#10;D)Are other policies and procedures organized to support the exploitation of this resource?

Accepted Answer

VRIO analysis questions focus on the value, rarity, imitability, and organization of a resource to assess its competitive potential. The question about a resource being intangible does not align with the VRIO framework, which does not specifically evaluate tangibility as a criterion.

Question 8

Dynamic capabilities are higher order capabilities that enable companies to renew their portfolio of capabilities to react to changing markets.

Accepted Answer

This statement accurately defines dynamic capabilities as higher order capabilities that allow companies to adapt and renew their capabilities to respond to changes in the market.

Question 9

The concept of _______ describes the stages of a manufacturing process necessary to produce a product or service.&#10;A)Demand product&#10;B)Value product&#10;C)Demand chain&#10;D)Value chain

Accepted Answer

The term "value chain" refers to the sequence of activities required to design, produce, market, deliver, and support a product or service. These activities may include research and development, sourcing raw materials, manufacturing, marketing, distribution, customer service, and ongoing product support. By analyzing the value chain, a company can identify where it can create more value for customers and where it can reduce costs or improve efficiency.

Question 10

If a company sets up a subsidiary abroad to move some of its production overseas, then we talk of:&#10;A)Captive marketing&#10;B)Captive offshoring&#10;C)Captive outsourcing&#10;D)Captive management

Accepted Answer

Captive offshoring refers to a situation where a company sets up a subsidiary abroad to move some of its production overseas. This allows them to take advantage of lower labor costs or access new markets. Captive marketing refers to a situation where a company sets up a subsidiary for the purpose of promoting and selling its products in a foreign market. Captive outsourcing refers to a situation where a company sets up a subsidiary to take care of its outsourcing requirements. Captive management refers to a situation where a company sets up a subsidiary to manage its operations in a foreign country.

Question 11

Sustainable competitive advantage is the ability to deliver persistently above-average performance.

Accepted Answer

The answer of Sustainable competitive advantage is the ability to...

Question 12

Tangible assets are things that are observable and quantifiable.

Accepted Answer

The answer of Tangible assets are things that are observable...

Question 13

Causal ambiguity is an important reason why competitors may find capabilities to inimitable.

Accepted Answer

The answer of Causal ambiguity is an important reason why...

Question 14

A company that is producing products on behalf of brand name companies without itself being involved in the product development is also known as:&#10;A)Original brand manufacturer&#10;B)Original equipment manufacturer&#10;C)Original market manufacturer&#10;D)Original design manufacturer

Accepted Answer

The answer of A company that is producing products on...

Deck 3: Informal Institutions: Culture, Religion and Languages