a firm's tangible resource includes which of the following?

Although firm infrastructure is often viewed only as overhead expense, it can become a source of competitive advantage. A useful way to identify a company's resources is to view them as: A. divided into two main categories, tangible and intangible. To capture more consumers Option D is the right choice here. Power of stockholders D) Production equipment can be considered an asset or resource of a company that is physical in nature and can be measured, making it a tangible resource. 12 Test Bank - Gould's Ch. 12 Test Bank, Peds Exam 1 - Professor Lewis, Pediatric Exam 1 Notes, A&p exam 3 - Study guide for exam 3, Dr. Cummings, Fall 2016, Sociology ch 2 vocab - Summary You May Ask Yourself: An Introduction to Thinking like a Sociologist, Respiratory Completed Shadow Health Tina Jones, Dehydration Synthesis Student Exploration Gizmo, Module One Short Answer - Information Literacy, Seeley's Essentials of Anatomy & Physiology Chapter 1-4, 1-2 Short Answer Cultural Objects and Their Culture, Sample solutions Solution Notebook 1 CSE6040, Kami Export - Jacob Wilson - Copy of Independent and Dependent Variables Scenarios - Google Docs, Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1. The components are then shipped back to the United States, where each complete car is assembled. False Verified answer. D) gains in financial performance and customer satisfaction must often come at a cost of employee satisfaction. The bands magic vanishes as quickly as it appeared, however. A dynamic capability exists when a firm is skilled at continually updating its array of capabilities to keep pace with changes in its environment. Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche. https://commons.wikimedia.org/wiki/File:Southwest_737_Lonestar_One.jpg, https://commons.wikimedia.org/wiki/File:The_VRIO_Framework_with_numbers.png, Next: 4.4 Intellectual Property & Isolating Mechanisms, Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. For example, Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingto create a unique business model whose performance is without peer in the industry. If yes, go to number 4. Tangible resources can be understood as the resources of a company that can be seen, and measured and are physical in nature. Superiority in competitive advantage refers to all of the following factors EXCEPT: Journal of Management, 17, 99120. D) Production equipment can be considered an asset or resource of a company that is physical in nature and can be measured, making it a tangible resource. A) rare, valuable, mobile, nonsubstitutable. A) KnowledgeB) Capacity for innovationC) Organizational routinesD) Production equipment. O - Not all organizations need strategies to survive and thrive. Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. Before long, The Wonders perform on television and That Thing You Do! is a top-ten hit record. https://youtu.be/BJn-Jl2ZeQU. Strategic Planning . O - One approach to focusing is to service either industrial buyers or consumers, but not both, Strategic management process is the coordinated means by which an organization chooses itsmission and vision. Superiority in competitive advantage refers to all of the following factors: 1) Customer service. Critical to the forming of competitive advantages, _______________ are often based on, developing, carrying, and exchanging information and knowledge through the firms human. Knowledge Capacity for innovation Organizational routines Production equipment. Capacity for innovation Organizational routines d. Production equipment. In the airline industry, is Southwests culture hard to imitate? Choose one of the companies below and identify three key stakeholders. Other airlines could not replicate Southwests culture, regardless of how hard they might try, because of Southwests unusual history. ExpensesFoodHouseholdElectricbillTelephonebillHeatingfuelWaterbillCableTVbillTransportationGasolinepurchasesParking/tollsPersonalClothingCreditpaymentsNewspapers. D) Compare the financial ratios of firms in the company's strategic group. Which of the following is a primary activity? False How was the resistance (if any) overcome? (1991). How can the members of an organization reach success doing that thing they do? The evaluation occurs within the industry of the firm being evaluated. Despite Mattinglys objections, Guy spontaneously adds an up-tempo beat to a sleepy ballad called That Thing You Do! during a local talent contest. Course Hero is not sponsored or endorsed by any college or university. d. Top-down process c. Leading Select one: a. A firm's tangible resource includes which of the following?a. This culture is also rare in that strikes, layoffs, and poor morale are common within the airline industry. A US firm has outsources its textile manufacturing to aBangledesh for the last 10 years. D) supports mostly support activities but does have some impact on primary activities. The balanced scorecard provides top managers with a _____________ view of the business, The balanced scorecard developed by Kaplan and Norton helps to integrate. ORGANIZED TO CAPTURE VALUE: Having in place the organizational systems, processes, and structure to capitalize on the potential of the resources and capabilities of the firm to provide a competitive advantage. Historical comparisons are often misleading. [Video]. A resource is valuable to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats. A resource that has three or less of the qualities can provide an edge in the short term, but competitors can overcome such an advantage eventually. Option D is the right choice here. In assessing its primary activities, an airline would examine. d. Relatively moderate rivalry As water becomes more and more rare, landowners in Maine stand to benefit. B) financial resources, physical resources, and the capacity to combine intangible resources. It. Planning Capabilities tend to arise over time as a firm takes actions that build on its strategic resources. Firm resources and sustained competitive advantage. What is this an example of. Ideally, a firm will its own resources, like Southwests culture, that embrace the four VRIO qualities shown in Table 4.1. C) criteria for lease versus purchase decisions. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. Production equipment O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? ______________ are the competencies or skills that a firm employs to transform inputs into outputs. A) Knowledge. Do any of the resources or capabilities of your favorite restaurant have the four qualities of resources (VRIO) that lead to success as articulated by resource-based theory. C) Organizational routines. Is Southwests culture valuable? In contrast, intangible resources are quite difficult to see, to touch, or to quantify. \text{EXPENDITURES FOR THE MONTH OF JULY} B-Strat Ch. 3 Flashcards | Chegg.com A. If yes, go to number 3. Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? C) Compare the financial ratios of all firms in the country's industrysome of whom serve very diverse market segments and have specialized accordingly. Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors. Also, water cannot be imitated (at least not on a large scale), and no other substance can substitute for the life-sustaining properties of water. For the event listed here, identify which of the determinants of demand or supply are affected. ___________ are associated with collecting, storing, and distributing the product or service to buyers. Low entry barriers : a. illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. Congratulations on advancing to the final unit of BUS 1101, the opening course in your degree program! opportunities or negate threats in the environment. Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. B) Compare the firm's financial ratios over the most recent one-year period. More specifically, capabilities refer to the firms ability to bundle, manage, or otherwise exploit resources in a manner that provides added value and, hopefully, advantage over competitors. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. They consist of warehousing, material handling, delivery operation, order processing, and scheduling. If not, then this resource only provides Southwest competitive parity. earn aboveaverage returns includes all of the following EXCEPT. These strategic resources can provide the foundation to develop firm capabilities that can lead to superior performance over time. Option C is also incorrect here. B) Whenever a company improves or developed its capabilities to support innovation, the organization is said to have the capacity for innovation. C) tangible resources, intangible resources, and organizational capabilities. Which of the following is not an advantage of Just-In-Time inventory systems? A) Compare the firm's financial ratios with ratios of firms in other strategic groups in the industry. al., 2010). The VRIO tool can be used to determine if resources or capabilities are valuable, rare, difficult-to-imitate, and organized to capture value, and thereby understand what type of competitive advantage they offer to a firm. The Wonders-That Thing You Do! If yes, go to number 2. In other words, describe a management practice from the course content relating to each of the four functions of management. A resource that is difficult to imitate, or create ready substitutes for is called, The VRIO criterion that determines whether a resource or capability is the source of, competitive advantage recognized that the firm must have the _______________ capability to. Intangible resources include, for example, the knowledge and skills of employees, a firms reputation, and a firms culture. Resources such as Southwests culture that reflect all four qualitiesvaluable, rare, difficult to imitate, and organized to capture valueare ideal because they can create sustained competitive advantages. Which of the following is considered an intangible resource? As another example, what about Southwest Airlines capability to arrive on time at a much higher rate than the industry average? ~~~~~\text{Clothing } & & 40.00 & 31.75\\ These two building blocks are tightly linkedcapabilities from using resources over time. Strategic Management Journal, 15(4), 271290. Which activity is the least risky candidate for outsourcing? Production equipment Principles of Management, Chapter 5 Flashcards | Quizlet A firms tangible resource includes which of the following a - Studocu The influence of Southwests organizational culture extends to how customers are treated by employees. True B. \text{Food} & & \$160.00 & \$175.70\\ turning over an organizational activity to an outside supplier. Ans. 4.3 Resource-Based View - Strategic Management - Virginia Tech 11 Tangible assets are those assets, which are physical in nature, eg - Cash, inventory, vehicles, factory, etc A firms reputat . This means that a firm has a unique ability to create new capabilities. Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingin order to create a unique business model in which effectiveness and efficiency is the envy of competitors. Relatively moderate rivalry, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Design and emergence strategies involve specific levels of the organiz, It is important to note that the concept of strategy is rele. What was the Kujawas total expenditure for the month of July? d. Threats posed by new entrants ~~~~~\text{Movies} & & 10.00 & 5.00\\ Design and emergence strategies involve specific levels of the organization. This too is intangible in nature, making Option B an incorrect choice. C) financial resources, physical resources, and technological resources. Some firms develop a dynamic capability. The best strategies, corporate and business, are based on a thorough SWOT analysis.

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