Question 1

A(n) ________ ideally supports the collective commitment of an organization's people to a common purpose.
A) strategy
B) plan
C) law
D) culture
E) order

Accepted Answer

Culture ideally supports the collective commitment of an organization's people to a common purpose by fostering shared values and beliefs.

Question 2

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?
A) Motivating
B) Planning
C) Controlling
D) Staffing
E) Organizing

Accepted Answer

Planning is the essential bridge between the present and the future, as it involves setting objectives and outlining steps to achieve desired results, thereby increasing the likelihood of success.

Question 3

Opportunities are a firm's distinctive competencies that cannot be easily matched or imitated by competitors.

Accepted Answer

Opportunities are external factors that a firm can exploit to its advantage, while distinctive competencies are internal strengths that are difficult for competitors to replicate.

Question 4

________ captures the subtle, elusive, and largely unconscious forces that shape a workplace.
A) Organizational culture
B) Business model
C) Organizational strategy
D) Organizational mandate
E) Regulation

Accepted Answer

Organizational culture captures the subtle, elusive, and largely unconscious forces that shape a workplace, influencing how employees interact and make decisions.

Question 5

The strategic-management process takes place largely within a particular organization's ________.
A) business model
B) culture
C) finances
D) supplier base
E) customer base

Accepted Answer

The strategic-management process is deeply influenced by an organization's culture, as it encompasses the values, beliefs, and norms that shape decision-making and strategic direction.

Question 6

Successful strategy formulation generally rests upon the ability of an organization to sell some product or service.

Accepted Answer

Successful strategy formulation involves understanding market conditions, competition, and internal capabilities, not just selling a product or service.

Question 7

For a resource to be valuable, it must be either rare, hard to imitate, or not easily substitutable.

Accepted Answer

A resource is valuable if it is rare, hard to imitate, or not easily substitutable.

Question 8

A firm's strengths that cannot be easily matched or imitated by competitors are called
A) internal audits.
B) distinctive competencies.
C) external audits.
D) interrelated properties.
E) internal properties.

Accepted Answer

Distinctive competencies are a firm's strengths that cannot be easily matched or imitated by competitors.

Question 9

The basic premise of the research-based view is that the mix, type, amount, and nature of a firm's internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage.

Accepted Answer

The resource-based view (RBV) emphasizes the importance of a firm's internal resources in creating strategies for sustainable competitive advantage.

Question 10

Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage.

Accepted Answer

The resource-based view (RBV) emphasizes the importance of a firm's internal resources and capabilities in achieving and sustaining competitive advantage, rather than external factors.

Question 11

Explain the resource-based view and its relation to strategic management.

Accepted Answer

The answer of Explain the resource-based view and its relation...

Question 12

Which of the following does the text call an up-front investment in success?
A) Planning
B) Organizing
C) Motivating
D) Staffing
E) Controlling

Accepted Answer

Planning is often considered an up-front investment in success because it involves setting goals and outlining steps to achieve them, which lays the groundwork for future success.

Question 13

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration, and that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think, and feel is called
A) dysfunctional behavior.
B) groupthink.
C) behavior modification.
D) organizational culture.
E) internal audit effect.

Accepted Answer

Organizational culture refers to the shared values, beliefs, and practices that have developed within an organization as it learns to deal with external and internal challenges, and which are taught to new members as the correct way to perceive, think, and feel.

Question 14

A resource is valuable if it is rare, hard to imitate, or
A) expensive.
B) inexpensive.
C) easily substitutable.
D) not easily substitutable.
E) inefficient.

Accepted Answer

A resource is valuable if it is not easily substitutable, as this makes it more unique and difficult for competitors to replace or replicate.

Question 15

All of the following are basic activities of management EXCEPT
A) staffing.
B) planning.
C) consolidating.
D) organizing.
E) motivating.

Accepted Answer

Consolidating is not a basic activity of management. The basic activities of management are planning, organizing, staffing, directing, and controlling.

Question 16

2 + 2 = 5 is the mathematical expression of the concept of
A) motivation.
B) synergy.
C) empowerment.
D) delegation.
E) organizational culture.

Accepted Answer

The concept of "2 + 2 = 5" is often used to illustrate synergy, where the combined effect is greater than the sum of individual effects.

Question 17

Since ________ resources can more easily be bought and sold, ________ resources are often more important for gaining and sustaining competitive advantages.
A) tangible; intangible
B) intangible; tangible
C) tangible; organizational
D) intangible; external
E) internal; external

Accepted Answer

Tangible resources can be easily bought and sold, but intangible resources, such as brand reputation, company culture, and intellectual property, are often more crucial for gaining and sustaining competitive advantages because they are unique and harder for competitors to replicate.

Question 18

Land is an example of a(n) ________ resource.
A) financial
B) shareholder
C) tangible
D) intangible
E) technological

Accepted Answer

Land is a physical asset that can be seen and touched, making it a tangible resource.

Question 19

Culture and ________ must work together.
A) finances
B) strategy
C) suppliers
D) customers
E) business model

Accepted Answer

Culture and strategy must work together to ensure that the organizational goals are aligned with the values and behaviors of the company, leading to effective execution and success.

Question 20

The functions of management can be performed best when a firm's ________ and culture are integrated.
A) finances
B) business model
C) profits
D) external environment
E) strategy

Accepted Answer

The functions of management are most effective when a firm's strategy and culture are aligned, as this ensures that the organization's goals and values are consistently supported and reinforced throughout its operations.

Quiz 4: The Internal Assessment

A(n) ________ ideally supports the collective commitment of an organization's people to a common purpose.

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?

Opportunities are a firm's distinctive competencies that cannot be easily matched or imitated by competitors.

________ captures the subtle, elusive, and largely unconscious forces that shape a workplace.

The strategic-management process takes place largely within a particular organization's ________.

Successful strategy formulation generally rests upon the ability of an organization to sell some product or service.

For a resource to be valuable, it must be either rare, hard to imitate, or not easily substitutable.

A firm's strengths that cannot be easily matched or imitated by competitors are called

The basic premise of the research-based view is that the mix, type, amount, and nature of a firm's internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage.

Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage.

Explain the resource-based view and its relation to strategic management.

Which of the following does the text call an up-front investment in success?

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration, and that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think, and feel is called

A resource is valuable if it is rare, hard to imitate, or

All of the following are basic activities of management EXCEPT

2 + 2 = 5 is the mathematical expression of the concept of

Since resources can more easily be bought and sold, resources are often more important for gaining and sustaining competitive advantages.

Land is an example of a(n) ________ resource.

Culture and ________ must work together.

The functions of management can be performed best when a firm's ________ and culture are integrated.