Question 1

If it is known why an organization is successful at a particular activity, it is easy for a competitor to imitate that activity.

Accepted Answer

Understanding why an organization is successful at a particular activity does not necessarily make it easy for a competitor to imitate that activity. Factors such as unique resources, company culture, brand reputation, proprietary technology, and skilled personnel can create barriers to imitation.

Question 2

British Airways outsources its in-flight catering. This is a reasonable thing to do because BA does not have a core competence in catering.

Accepted Answer

Outsourcing non-core competencies can be a smart business move, and in-flight catering may not be a core competency for an airline like British Airways.

Question 3

The resource-based view of the firm has received some criticism. Which of the following statements are criticisms? Please select all that apply.
A) There is not enough detail on how to implement the approach.
B) It says little on how strategies develop over time.
C) There is little recognition of emergent strategies.
D) It is just another name for knowledge management.

Accepted Answer

A) One criticism of the resource-based view is that it lacks guidance on how to actually apply the approach in practice.
B) Critics argue that the resource-based view does not account for the changing nature of strategy development over time and how strategies must adapt to changing circumstances.
C) Another criticism is that the resource-based view does not fully acknowledge the significance of emergent strategies, which can arise spontaneously from within an organization and be crucial for success.
D) It is not accurate to say that the resource-based view is the same as knowledge management - while they may be related concepts, they are not interchangeable terms.

Question 4

Which of the following activities does knowledge management include? Please select all that apply.
A) Knowledge acquisition
B) Knowledge transfer
C) Exploitation of knowledge
D) Knowledge codification

Accepted Answer

Knowledge management includes all of the activities listed: knowledge acquisition, transfer, exploitation, and codification. Knowledge acquisition involves identifying and obtaining new knowledge relevant to the organization's goals. Knowledge transfer is the process of sharing knowledge within the organization, so that everyone can benefit from it. Exploitation of knowledge is the use of knowledge to create value for the organization, by improving products or services, or by finding new opportunities. Knowledge codification involves converting knowledge into a more formal and structured format, such as a database or a set of best practices.

Question 5

If a company has 'leveraged' its knowledge, it means it has:
A) Written it down
B) Protected it
C) Made best use of it
D) Sold it to another company

Accepted Answer

Leveraging knowledge means making the best use of it, for example, using it to improve processes or create new products. Writing it down or protecting it might be part of the process of leveraging knowledge, but it is not the main goal. Selling it to another company would not necessarily mean that the knowledge has been leveraged, as the new company might not know how to use it effectively.

Question 6

The most difficult type of knowledge to transfer is:
A) Codified knowledge
B) Explicit knowledge
C) Tacit knowledge
D) Technical knowledge

Accepted Answer

Tacit knowledge is the knowledge that is difficult to codify or articulate and is based on personal experiences, skills, beliefs, and values that are deeply ingrained in an individual. It is difficult to transfer because it is highly contextual and dependent on the specific situation, and often cannot be fully expressed through language or other explicit forms of communication.

Question 7

In a turbulent environment, firms have to survive and grow by:
A) Developing dynamic capabilities.
B) Adapting to changes.
C) Grasping opportunities.
D) Integrating internal and external competencies.

Accepted Answer

In a turbulent environment, firms need to develop dynamic capabilities to adapt to changes, grasp opportunities, and integrate internal and external competencies in order to survive and grow. Therefore, all choices are best suited for firms to succeed in such an environment.

Question 8

Dynamic capabilities are:
A) Different from organizational routines.
B) Different from operational capabilities.
C) Concerned with change and enable a firm to extend or modify how it currently makes a living.
D) To allow an organization to undertake acquisitions and strategic alliances.

Accepted Answer

The answer of Dynamic capabilities are:
A) Different from organizational routines.
B)...

Question 9

Sidney Winter argues that the value of dynamic capabilities is endorsed by all strategy scholars.

Accepted Answer

While many strategy scholars do recognize the importance of dynamic capabilities, there is debate and criticism regarding their specific definition and implementation. Therefore, not all strategy scholars endorse the value of dynamic capabilities.

Question 10

Distinction between dynamic and operational capabilities is actually difficult to define for reasons such as: please select all that apply.
A) There are different definitions.
B) Change is always occurring to some extent.
C) Radical versus non-radical change.
D) Some capabilities can be used for only dynamic purposes.

Accepted Answer

The answer of Distinction between dynamic and operational capabilities is...

Question 11

One reason for the plethora of confusion that still resides within the dynamic capabilities framework is that key participants remain divided on crucial conceptual issues.

Accepted Answer

The statement is true as there are disagreements among scholars regarding fundamental aspects of the dynamic capabilities framework, causing confusion and ambiguity.

Quiz 5: The Internal Environment: a Resource-Based View of Strategy

If it is known why an organization is successful at a particular activity, it is easy for a competitor to imitate that activity.

British Airways outsources its in-flight catering. This is a reasonable thing to do because BA does not have a core competence in catering.

The resource-based view of the firm has received some criticism. Which of the following statements are criticisms? Please select all that apply.

Which of the following activities does knowledge management include? Please select all that apply.

If a company has 'leveraged' its knowledge, it means it has:

The most difficult type of knowledge to transfer is:

In a turbulent environment, firms have to survive and grow by:

Dynamic capabilities are:

Sidney Winter argues that the value of dynamic capabilities is endorsed by all strategy scholars.

Distinction between dynamic and operational capabilities is actually difficult to define for reasons such as: please select all that apply.

One reason for the plethora of confusion that still resides within the dynamic capabilities framework is that key participants remain divided on crucial conceptual issues.