Question 1

A stock of resources needs to be managed according to&#8230;&#10;A) Situational need&#10;B) Value&#10;C) Opportunity cost&#10;D) Cost management agenda

Accepted Answer

Situational need refers to managing resources according to the specific circumstances or requirements at a given time. This approach allows for flexibility and responsiveness to changing conditions or demands. Value, opportunity cost, and cost management agenda are also important considerations in resource management, but they may not address immediate situational needs.

Question 2

Connor (2002) has criticised RBV for being too&#8230;&#10;A) theoretical&#10;B) practical&#10;C) applied&#10;D) broad

Accepted Answer

Connor (2002) argued that RBV is too theoretical and lacks practical applicability.

Question 3

What an organization is capable of doing in the present is a function of&#8230;&#10;A) what has happened in the past&#10;B) what will happen in the future&#10;C) what the present demands on the business are&#10;D) the resource stock of the business

Accepted Answer

A

Question 4

In describing resources which were once valuable, and are still considered so in strategy work, but which are in actuality a hindrance to organizational performance, Dorothy Leonard-Barton (1992) used the term:

A) Core rigidities
B) Path resources
C) Dependent resources
D) Resource rigidities

Accepted Answer

Core rigidities refer to resources that were once a competitive advantage but have now become a hindrance to organizational performance due to their inflexibility and inability to adapt to changing external environments. This term was coined by Dorothy Leonard-Barton in her 1992 article "Core Capabilities and Core Rigidities: A Paradox in Managing New Product Development" and has since been used widely in strategy and organizational management literature.

Question 5

Winter (2003) describes dynamic capabilities as:&#10;A) First order&#10;B) Zero order&#10;C) Third order&#10;D) Second order

Accepted Answer

The answer of Winter (2003) describes dynamic capabilities as:&#10;A) First...

Question 6

What is the purpose of a value chain analysis?&#10;A) To identify how new resource configurations and capabilities can be&#10;Arranged in order to meet shifting organizational needs.&#10;B) To identify resources that are under-utilised&#10;C) To identify the source of competitive advantage&#10;D) To identify cost savings

Accepted Answer

The answer of What is the purpose of a value...

Question 7

Which of the following are steps in a dynamic capability audit?&#10;A) Evaluate the existing profile of capabilities&#10;B) Identify resource base changes to enable revised capability profile&#10;C) Evaluate the adequacy of existing dynamic capabilities&#10;D) Evaluate resource value&#10;E) Evaluate competitor dynamic capabilities

Accepted Answer

The answer of Which of the following are steps in...

Question 8

Which of the following are steps in a value chain analysis?&#10;A) Set the boundaries for your analysis&#10;B) Evaluate the current configuration of the value chain&#10;C) Draw implications and options for action&#10;D) Evaluate functional areas&#10;E) Evaluate value-generating activities

Accepted Answer

The answer of Which of the following are steps in...

Question 9

Peteraf (1993) explains the difference in firm performances as the difference in the resource bases of organizations

Accepted Answer

Peteraf (1993) argues that the difference in firm performances can be attributed to the difference in their resource bases, such as physical, financial, human, and organizational resources.

Question 10

Procurement is a primary activity in the value chain

Accepted Answer

Procurement is one of the primary activities in the value chain, along with inbound logistics, operations, outbound logistics, marketing and sales, and service.

Deck 6: Internal Environment: Resources, Capabilities, and Activities