Question 1

An organization's culture compares to an individual's personality in the sense that no two organizations have the same culture and no two individuals have the same personality.

Accepted Answer

Just as an individual's personality is unique to them, an organization's culture is also unique and shaped by its values, beliefs, and practices.

Question 2

Organizing is the cornerstone of effective strategy formulation.

Accepted Answer

False

Question 3

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

Accepted Answer

False

Question 4

The RBV theory asserts that it is advantageous for a firm to pursue a strategy that is not currently being implemented by any competing firm.

Accepted Answer

The RBV theory suggests that a firm can gain a sustainable competitive advantage by possessing resources and capabilities that are rare, valuable, inimitable, and organized (VRIO). Therefore, a firm should strive to pursue a strategy that is tailored to its unique resources and capabilities, and that is not currently being pursued by any competing firm. This will allow the firm to differentiate itself from competitors and create a barrier to entry for future competitors.

Question 5

Linkages between a firm's culture and strategies often determine success.

Accepted Answer

A firm's culture can significantly impact its strategies and ultimately its success. A strong culture aligned with strategy can drive employee engagement, innovation, and customer satisfaction. On the other hand, a culture that is in conflict with strategy can hinder progress and limit the achievement of business objectives. Therefore, it is crucial for firms to develop a culture that supports their strategies and goals.

Question 6

Allocating resources is one of the five basic activities (functions)performed by managers.

Accepted Answer

The answer of Allocating resources is one of the five...

Question 7

Established companies are coming to realize that their next generation of potential customers spends more time online than watching TV.

Accepted Answer

Studies show that younger generations are spending more time on digital platforms such as social media, online streaming services, and mobile apps rather than traditional TV channels. As a result, companies are shifting their marketing strategies to focus more on digital advertising and content creation.

Question 8

The subtle,elusive and largely unconscious forces that shape the workplace are captured by the organizational culture.

Accepted Answer

Organizational culture refers to the values, beliefs, practices, and customs that shape the behavior of individuals and groups within an organization. It influences the way people interact, communicate, and work together. These cultural forces are often subtle, elusive, and largely unconscious, yet they have a significant impact on the workplace dynamics, employee attitudes and behavior, and ultimately, the success of the organization.

Question 9

At Google the culture is very rigid,while in contrast the culture at Proctor & Gamble is very informal.

Accepted Answer

This statement is false. In reality, the culture at Google is known to be very informal, while the culture at Proctor & Gamble is more formal and bureaucratic.

Question 10

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 answer of The basic premise of the research-based view...

Question 11

The process of performing an internal audit,compared to the external audit,provides more opportunity for participants to understand how their jobs,departments and divisions fit into the whole organization.

Accepted Answer

Internal audits are conducted by employees of the organization and involve a review of the organization's operations and processes from within. This provides employees with a better understanding of their roles and responsibilities within the organization. External audits, on the other hand, are conducted by independent auditors and focus on the organization's financial statements, which may not provide as much insight into the organization's overall operations.

Question 12

An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20)of the most important strengths and weaknesses.

Accepted Answer

This statement is true. An internal audit task force of managers can be assigned to determine the top strengths and weaknesses of the organization. Usually, the number selected is between 10-20 to keep the focus on the most critical areas.

Question 13

A ritual is a standardized,detailed set of techniques and behaviors used to manage anxieties.

Accepted Answer

A ritual is a set of actions or words performed in a specific way to manage anxieties or increase a sense of control or certainty. It is often used as a coping mechanism to deal with situations that cause stress, uncertainty or fear.

Question 14

Resources that are common are never considered valuable.

Accepted Answer

Common resources can still be valuable if they are rare or if they possess qualities that are desirable or useful. For example, water is a common resource but it is still valuable because it is necessary for human survival. Similarly, air is a common resource but it is still valuable because it is essential for breathing.

Question 15

While interesting,organizational culture does not significantly affect business decisions.

Accepted Answer

Organizational culture can have a significant impact on business decisions, as it can influence how employees perceive and respond to various situations and decisions. Culture can shape attitudes towards risk-taking, innovation, collaboration, and other key aspects of business strategy. Additionally, leaders who prioritize or embody certain cultural values may drive decision-making in a particular direction.

Question 16

The only certain thing about the future of any organization is change.

Accepted Answer

Change is inevitable and organizations must be able to adapt if they want to thrive in the future.

Question 17

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

Proponents of the resource-based view argue that internal factors, such as a firm's unique resources, capabilities, and competencies, are more important than external factors in achieving and sustaining competitive advantage.

Question 18

Cultural products include values,beliefs,stories,and language.

Accepted Answer

Cultural products refer to the tangible and intangible elements of a culture, including values, beliefs, stories, language, art, music, and more.

Question 19

Metaphors are handed-down narratives of some wonderful event that are based on history but have been embellished with fictional detail.

Accepted Answer

The answer of Metaphors are handed-down narratives of some wonderful...

Question 20

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

Accepted Answer

This statement is true. A resource that is common, easy to imitate, or easily sustainable is not as valuable because it is easily obtained and can be replicated by others. Valuable resources are those that are scarce or difficult to obtain, making them more desired and valuable.

Quiz 4: The Internal Assessment