Question 1<\/p>\n
Which of the following is one of the four Ps of the marketing mix?<\/p>\n
Process<\/p>\n
Physical evidence<\/p>\n
People<\/p>\n
Promotion<\/p>\n
Planning<\/p>\n
5 points<\/p>\n
QUESTION 2<\/p>\n
Which of the following is true about transaction cost economics?<\/p>\n
It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.<\/p>\n
It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them.<\/p>\n
It is a theory that examines the extent to which firms copy each other’s strategies.<\/p>\n
It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs.<\/p>\n
It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.<\/p>\n
5 points<\/p>\n
QUESTION 3<\/p>\n
A value chain differs from a supply chain in that a value chain:<\/p>\n
is a system of people, activities, information, and resources involved in creating a product and moving it to the customer.<\/p>\n
charts the path by which products and services are created and eventually sold to customers.<\/p>\n
is a broader concept than a supply chain.<\/p>\n
concept is fixated on how fast products can be made available to consumers.<\/p>\n
creation requires the components of agility, adaptability, and alignment.<\/p>\n
5 points<\/p>\n
QUESTION 4<\/p>\n
_____ provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.<\/p>\n
Patents<\/p>\n
Copyrights<\/p>\n
Trademarks<\/p>\n
Trade secrets<\/p>\n
Inventor rights<\/p>\n
5 points<\/p>\n
QUESTION 5<\/p>\n
Which of the following is a primary activity that value chains include?<\/p>\n
Procurement<\/p>\n
Firm infrastructure<\/p>\n
Service<\/p>\n
Technology<\/p>\n
Human resource management<\/p>\n
5 points<\/p>\n
QUESTION 6<\/p>\n
A resource is _____ to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats.<\/p>\n
rare<\/p>\n
difficult to imitate<\/p>\n
non-substitutable<\/p>\n
executable<\/p>\n
valuable<\/p>\n
5 points<\/p>\n
QUESTION 7<\/p>\n
Which of the following is an example of a patent?<\/p>\n
Richard James’s Slinky<\/p>\n
McDonald’s golden arches<\/p>\n
The Nike swoosh<\/p>\n
The formulation of Coca-Cola<\/p>\n
Original artistic creations, like books<\/p>\n
5 points<\/p>\n
QUESTION 8<\/p>\n
To earn a(n) _____ from the U.S. Patent and Trademark Office, an inventor must demonstrate than an invention is new, non-obvious, and useful.<\/p>\n
copyright<\/p>\n
trademark<\/p>\n
trade secret<\/p>\n
patent<\/p>\n
inventor right<\/p>\n
5 points<\/p>\n
QUESTION 9<\/p>\n
Which of the following theories for explaining a firm’s competitiveness contends that organizations are very limited in their ability to adapt to the conditions around them?<\/p>\n
Resource-based theory<\/p>\n
Enactment<\/p>\n
Transaction cost economics<\/p>\n
Environmental determinism<\/p>\n
Institutional theory<\/p>\n
5 points<\/p>\n
QUESTION 10<\/p>\n
Trademarks:<\/p>\n
are phrases, pictures, names, or symbols used to identify a particular organization.<\/p>\n
provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.<\/p>\n
are legal decrees that protect inventions from direct imitation for a limited period of time.<\/p>\n
refer to formulas, practices, and designs that are central to a firm’s business and that remain unknown to competitors.<\/p>\n
provide exclusive rights to the creators of formulas, practices, and designs and allow them to keep those a secret.<\/p>\n
5 points<\/p>\n
QUESTION 11<\/p>\n
Which of the following is least likely to meet the criteria for strategic resources?<\/p>\n
A firm’s raw material inventory<\/p>\n
A firm’s organizational culture<\/p>\n
A firm’s reputation<\/p>\n
A firm’s intellectual properties<\/p>\n
A firm’s employees’ skills<\/p>\n
5 points<\/p>\n
QUESTION 12<\/p>\n
According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.<\/p>\n
availability<\/p>\n
dynamism<\/p>\n
rarity<\/p>\n
tangibility<\/p>\n
competitiveness<\/p>\n
5 points<\/p>\n
QUESTION 13<\/p>\n
Which of the following refer to formulas, practices, and designs that are central to a firm’s business and that remain unknown to competitors?<\/p>\n
Patents<\/p>\n
Copyrights<\/p>\n
Trademarks<\/p>\n
Trade secrets<\/p>\n
Inventor rights<\/p>\n
5 points<\/p>\n
QUESTION 14<\/p>\n
Which of the following is one of the four components required for creating best value supply chains?<\/p>\n
Strategic value chain management<\/p>\n
Adaptability<\/p>\n
Technology<\/p>\n
Diversification<\/p>\n
Operations<\/p>\n
5 points<\/p>\n
QUESTION 15<\/p>\n
It would be simply too costly for an airline to pursue a backward integration strategy and enter the airplane manufacturing business. Which of the following theories for explaining a firm’s competitiveness is most likely to give executives such insights?<\/p>\n
Resource-based theory<\/p>\n
Enactment<\/p>\n
Transaction cost economics<\/p>\n
Environmental determinism<\/p>\n
Institutional theory<\/p>\n
5 points<\/p>\n
QUESTION 16<\/p>\n
A firm that enjoys a(n) _____ capability is one that is skilled at continually updating its array of capabilities in order to keep pace with changes in its environment.<\/p>\n
competitive<\/p>\n
distinctive<\/p>\n
strategic<\/p>\n
dynamic<\/p>\n
evolving<\/p>\n
5 points<\/p>\n
QUESTION 17<\/p>\n
Which of the following is true about institutional theory?<\/p>\n
It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.<\/p>\n
It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them.<\/p>\n
It is a theory that examines the extent to which firms copy each other’s strategies.<\/p>\n
It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs.<\/p>\n
It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.<\/p>\n
5 points<\/p>\n
QUESTION 18<\/p>\n
_____ is one of the five support activities that value chains include.<\/p>\n
Inbound logistics<\/p>\n
Technology<\/p>\n
Operations<\/p>\n
Service<\/p>\n
Marketing and sales<\/p>\n
5 points<\/p>\n
QUESTION 19<\/p>\n
The formulation of Coca-Cola is an example of a(n) _____.<\/p>\n
copyright<\/p>\n
trademark<\/p>\n
trade secret<\/p>\n
patent<\/p>\n
inventor right<\/p>\n
5 points<\/p>\n
QUESTION 20<\/p>\n
_____ is one of the five primary activities that value chains include.<\/p>\n
Procurement<\/p>\n
Firm infrastructure<\/p>\n
Technology<\/p>\n
Human resource management<\/p>\n
Inbound logistics<\/p>\n
5 points<\/p>\n","protected":false},"excerpt":{"rendered":"
Question 1 Which of the following is one of the four Ps of the marketing mix? Process Physical evidence People Promotion Planning 5 points QUESTION 2 Which of the following is true about transaction cost economics? It is a theory Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-55022","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/55022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=55022"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/55022\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=55022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=55022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=55022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}