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

Use the Kujawas expense summary to answer the question. A firm's tangible resource includes which of the following? ______________ are the competencies or skills that a firm employs to transform inputs into outputs. Tangible goods such as ones car and home are also vital resources. Build the IS-LM function.b. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ Resource-based theory suggests that tangible or intangible resources that are valuable, rare, difficult to imitate, and organized to capture value best position a firm for long-term success. RARE resources are those held by few or no other competitors. What tangible and intangible resources does your favorite restaurant have that might give it a competitive advantage? 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. Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. reading all the available information carefully, prepare a two page (double-spaced) essay and answer the following questions:Assume that we have the following data:C=100+0.50YIp=100-20rMt=0.10YMs=100-10rM=80a. firms that execute the design blueprints provided by western firms. Recently, shareholders have been vocal about the importance of products made in the US. Captures how vision and mission will be achieved. d. Moderate to high rivalry False a process through which unique products that command high prices and high margins gradually lose their ability to do so. Superiority in competitive advantage refers to all of the following factors EXCEPT: Where does strategy formulation fit within the POLC framework? C) rare, valuable, inimitable, nonsubstitutable, B) in periods of recession or economic boom. https://youtu.be/BJn-Jl2ZeQU. Which of the following is an example of a technological resource? Which of the following is a tangible reource?*. Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels. The influence of Southwests organizational culture extends to how customers are treated by employees. A) interrelationships among functional areas and firm strategies. Although the airline industry is extremely competitive, Southwest Airliness turns a profit virtually every year. Not surprisingly, Coca-Cola ranks among the top twelve in Fortunes Worlds Most Admired Companies for 2020. D) the effectiveness of its lobbying activities. Despite having three of the four properties of strategic resources, water in the United States has remained cheap; however, this may be changing. C) repairing the product for the consumer, D) monitoring the cost of producing the product through a cost accounting system. Planning To satisfy the mission and vision Which of the following is a primary activity? Transcribed image text: 5. d. Threats posed by new entrants If not, then this resource only provides Southwest competitive parity. How has Walgreens used its core competencies to provide value to its customers? Which of the following is a support activity? b. Strategy is a pattern of resource allocation choices and organizational arrangements that result frommanagerial decision making. Firm resources and sustained competitive advantage. Knowledge b. The tangibility of a firms resources is an important consideration within resource-based theory. -Production equipment B. In the case of on-time arrival capability, Southwest Airline enjoys a temporary competitive advantage (the third line), but it is not that difficult for rivals to imitate this ability. \text{EXPENDITURES FOR THE MONTH OF JULY} d.Knowledge Question 10 For a differentiation strategy to be effective, the product . Other resources are hard to copy because they evolve over time and they reflect unique aspects of the firm. For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Design and emergence strategies involve specific levels of the organization. A strategic resource is an asset that is valuable, rare, difficult to imitate, and organized to capture value (Barney, 1991; Chi, 1994). Journal of Management, 17, 99120. d. Unique style Another is guitarist Lenny Haise, whose fun attitude reigns in the enigmatic Mattingly. Although not a formal band member, Mattinglys girlfriend Faye provides emotional support to the group and even suggests the groups name. Superiority in competitive advantage refers to all of the following factors: 1) Customer service. Said differently, a firm that enjoys a dynamic capability is skilled at continually updating its array of capabilities to keep pace with changes in its environment. C) financial resources, physical resources, and technological resources. B) supports only individual support activities. 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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. Strategy formulation is an essential component of the POLC framework: a. What is this an example of. YouTube. 5 Option A Explanation: Tangible resources have a physical form, t . d. Top-down process Resources that can be readily seen, touched, and quantified, such as cash or equipment, Resources that are not physical, like a firms reputation, a patent, or employee knowledge, Resources that provide an organization with an opportunity to develop competitive advantages over its rivals. B) in periods of recession or economic boom. A crash R&D program by one firm cannot replicate a successful technology developed by another firm when research findings cumulate. C) Organizational routines. According to value chain analysis, which of the following would be considered part of a firm's infrastructure? b. Consider, for example, a very generic commodity: water. False Resource-based theory contends that the possession of strategic resources provides an organization with a golden opportunity to develop competitive advantages over its rivals (Table 4.1). D) rare, valuable, physically unique, causally ambiguous. The purpose of this paper is to investigate the relative contribution of tangible resource (TR) and intangible resource (IR), and capabilities on firm performance based on the measures of market share, sales turnover and profitability. Tangible resources include all except which of the following? & &\text{Amount}& \text{Amount}\\ 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. In the value chain, which of the following activities is deemed to add direct value to a firm? Distribution centers. Those resources and capabilities that provide a significant competitive advantage are referred to as what? B) financial resources, physical resources, and the capacity to combine intangible resources. One key reason for their success is a legendary organizational culture that inspires employees to do their very best. D) Compare the financial ratios of firms in the company's strategic group. ~~~~~\text{Telephone bill} & & 35.00 & 41.20\\ The balanced scorecard enables managers to consider their business from all of the following perspectives except. B. Consider the market for minivans. A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the. When analyzing organizations, however, common resources such as cash and vehicles are not considered to be strategic resources. A firm's tangible resource includes which of the following? Choose question tag. This means that a firm has a unique ability to create new capabilities. illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. Option A is incorrect here. The CEO decides to move the firm's textile manufacturing back to the US to capitalize on the increasing pressure from shareholders to process textiles in the US. C) supports both individual primary and support activities and the entire value chain. Communicates to stakeholders the hierarchical corporate structure. 6/28/2017 Chapter 5 Quiz: MAN3025 RVEB 1175 4 / 4 ptsQuestion 6 In the value chain, which of the following activities is deemed to add direct value to a firm? Acknowledged by top management a. It signals the market to competent manufacturing, why it is difficult to identify the actual cause of a firm's successful performance. C) rarity, path dependency, causal ambiguity, and social substitutability. It has observed as much of the firm's internal functioning and technology as it can legally, yet Gamma cannot understand why Ardent has a competitive advantage over it. O - Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to aparticular market niche This customer loyalty is why many passengers choose Southwest over other airlines. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Coca-Cola, for example, has an uncanny knack for building new brands and products as the soft drink market evolves. : a. Also assume that the cost of each unit of labor is $50. D) if the firm's stock is publicly traded. 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. It does not help or hurt Southwest competitively. If we assume an increase in Investments by 100 units, please calculate again the IS-LM functions.c. Production equipment True B. 5 Option A Strategic Management Journal, 5, 171180. B) the key emphasis on customer satisfaction and financial goals are only a means to that end. Historical comparisons are often misleading. a. When the bands usual drummer has to miss a gig due to injury, the door is opened for charismatic drummer Guy Patterson, whose energy proves to be the final piece of the puzzle for The Wonders. ~~~~~\text{Newspapers. True A companys value derives not from things, but from ____________. 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. D) gains in financial performance and customer satisfaction must often come at a cost of employee satisfaction. Cross), Civilization and its Discontents (Sigmund Freud), Psychology (David G. Myers; C. Nathan DeWall), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Give Me Liberty! Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. Experts are tested by Chegg as specialists in their subject area. C. physical resources, such as the company's brand, image, and reputation . c. Gobal economic conditions B) psychographic uniqueness, path dependency, causal ambiguity, and substitutability. Figure 4.2: Planephotoman. b. Most other airlines do not have this philosophy. d. Controlling If yes, then Southwests culture is providing a sustained competitive advantage. On occasion, events in the environment can turn a common resource into a strategic resource. As another example, what about Southwest Airlines capability to arrive on time at a much higher rate than the industry average? Industry characteristics of an attractive industry, one where firms may achieve strategiccompetitiveness and earn above-average returns includes which of the following? Correct Answer: Explore answers and other related questions. This may provide bargaining power for the firm in the marketplace. Low cost ~~~~~\text{Gasoline purchases} & & 85.00 & 101.70\\ Do you believe most, You work for an organization that has traditionally been very formalized, and managers have had a very broad span of control over direct reports from multiple departments and functions. C) managers should not look at their job as primarily balancing stakeholder demands; increasing satisfaction among multiple stakeholders can be achieved simultaneously. 12 Test Bank - Gould's Ch. c. Conglomerate diversification False b. 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. A firm's tangible resource includes which of the following? In the 1996 movie That Thing You Do!, unwittingly assembling a unique bundle of resources leads a 1960s band called The Wonders to rise from small-town obscurity to the top of the music charts. How should managers assess changes in their firm's competitive position in their industries during a period of unusual economic growth? True The airline had so little money that at times it had to temporarily borrow luggage carts from other airlines and put magnets with the Southwest logo on top of the rivals logo. Suppliers and buyers with little bargaining power A firms tangible resource includes which of the following? Want to create or adapt books like this? \text{Expenses} & & \text{Budgeted} & \text{Spent}\\[10pt] Resources that do not have all four qualities can still be very useful, but they are unlikely to provide long-term advantages. A) physical uniqueness, path dependency, causal ambiguity, and social complexity. In comparing the two types of resources, intangible resources are more likely to meet the criteria for strategic resources (i.e., valuable, rare, difficult-to-imitate, and organized to capture value) than are tangible resources.

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