Question 1

The internal measures should reflect business processes that have ______ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Accepted Answer

A)   the least
B)   variable
C)   the most
D)   potentialE) C) and D)
F) All of the above

Question 2

__________ among organizations is played out over time.

Accepted Answer

A)   Negotiation
B)   Sustainability
C)   Competition
D)   LearningE) C) and D)
F) A) and B)

Question 3

Tangible resources are assets that are relatively easy to identify such as financial and physical assets.

Accepted Answer

A) True 
 B)False

Question 4

Accounting is a sort of transformation process that converts daily records of individual transactions into monthly financial reports.The __________ are the inputs,accounting is the operation that adds value,and ___________ are the outputs.

Accepted Answer

A)   transaction records; financial statements
B)   financial statements; transaction records
C)   employee records; transaction records
D)   health records; transaction statementsE) None of the above
F) B) and D)

Question 5

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Accepted Answer

A)   turnover ratios.
B)   leverage ratios.
C)   liquidity ratios.
D)   profitability ratios.E) B) and D)
F) B) and C)

Question 6

Technology development is a much broader concept than research and development.

Accepted Answer

A) True 
 B)False

Question 7

In conducting a SWOT analysis,a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

Accepted Answer

A) True 
 B)False

Question 8

Support activities provide support for primary activities,but not each other.

Accepted Answer

A) True 
 B)False

Question 9

The innovation and learning perspective of the balanced scorecard answers which of the following questions?

Accepted Answer

A)   How do customers see us?
B)   What must we excel at?
C)   How do we look to shareholders?
D)   Can we continue to improve and create value?E) A) and B)
F) A) and C)

Question 10

Employee exit cost is a factor that can increase employee bargaining power and help him or her appropriate profits of the firm.

Accepted Answer

A) True 
 B)False

Question 11

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Accepted Answer

A) True 
 B)False

Question 12

FedEx employees take computer-based job competency tests every 6 to 12 months in order to identify areas of individual weakness and provide input to a computer database of employee skills.This is an example of a tangible resource.

Accepted Answer

A) True 
 B)False

Question 13

Inventory turnover is a measure of asset utilization.

Accepted Answer

A) True 
 B)False

Question 14

To survive and prosper,managers must not make frequent changes to existing products and services,because it will confuse the customer.

Accepted Answer

A) True 
 B)False

Question 15

The internal business perspective of the balanced scorecard answers which of the following questions?

Accepted Answer

A)   How do customers see us?
B)   What must we excel at?
C)   How do we look to shareholders?
D)   Can we continue to improve and create value?E) A) and B)
F) None of the above

Question 16

Strategists who rely on traditional definitions of their industry and competitive environment often focus their sights too ___________ on current customers,technologies,and competitors.

Accepted Answer

A)   broadly
B)   narrowly
C)   aggressively
D)   widelyE) B) and C)
F) All of the above

Question 17

A variety of firm resources include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon

Accepted Answer

A)   path dependency.
B)   social complexity.
C)   physical uniqueness.
D)   tangible resources.E) A) and B)
F) All of the above

Question 18

__________ are the competencies or skills that a firm employs to transform inputs into outputs.

Accepted Answer

A)   Tangible resources
B)   Reputational resources
C)   Organizational capabilities
D)   Intangible resourcesE) A) and B)
F) All of the above

Question 19

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

Accepted Answer

A)   multiple strengths
B)   multiple opportunities
C)   a single strength
D)   a single opportunityE) A) and B)
F) B) and D)

Question 20

Which of the following is not an advantage of Just-In-Time inventory systems?

Accepted Answer

A)   reduced raw material storage costs
B)   minimized idle production facilities and workers
C)   reduced work-in-process inventories
D)   reduced dependence on suppliersE) None of the above
F) B) and C)

Exam 3: Assessing the Internal Environment of the Firm

The internal measures should reflect business processes that have ______ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Correct AnswerverifiedShow Answer

Support activities provide support for primary activities,but not each other.

Correct AnswerverifiedShow Answer

Which of the following is not an advantage of Just-In-Time inventory systems?

Correct AnswerverifiedShow Answer

To survive and prosper,managers must not make frequent changes to existing products and services,because it will confuse the customer.

Correct AnswerverifiedShow Answer

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Correct AnswerverifiedShow Answer

Tangible resources are assets that are relatively easy to identify such as financial and physical assets.

Correct AnswerverifiedShow Answer

In conducting a SWOT analysis,a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

Correct AnswerverifiedShow Answer

Employee exit cost is a factor that can increase employee bargaining power and help him or her appropriate profits of the firm.

Correct AnswerverifiedShow Answer

Accounting is a sort of transformation process that converts daily records of individual transactions into monthly financial reports.The __________ are the inputs,accounting is the operation that adds value,and ___________ are the outputs.

Correct AnswerverifiedShow Answer

Strategists who rely on traditional definitions of their industry and competitive environment often focus their sights too ___________ on current customers,technologies,and competitors.

Correct AnswerverifiedShow Answer

FedEx employees take computer-based job competency tests every 6 to 12 months in order to identify areas of individual weakness and provide input to a computer database of employee skills.This is an example of a tangible resource.

Correct AnswerverifiedShow Answer

__________ are the competencies or skills that a firm employs to transform inputs into outputs.

Correct AnswerverifiedShow Answer

The innovation and learning perspective of the balanced scorecard answers which of the following questions?

Correct AnswerverifiedShow Answer

The internal business perspective of the balanced scorecard answers which of the following questions?

Correct AnswerverifiedShow Answer

Inventory turnover is a measure of asset utilization.

Correct AnswerverifiedShow Answer

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

Correct AnswerverifiedShow Answer

A variety of firm resources include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon

Correct AnswerverifiedShow Answer

Technology development is a much broader concept than research and development.

Correct AnswerverifiedShow Answer

__________ among organizations is played out over time.

Correct AnswerverifiedShow Answer

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Correct AnswerverifiedShow Answer

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Accounting is a sort of transformation process that converts daily records of individual transactions into monthly financial reports.The are the inputs,accounting is the operation that adds value,and _ are the outputs.

Correct Answer
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