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Chapter 3—The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

TRUE/FALSE

1.According to the Opening Case, Apple’s strong financial performance in poor economic times is largely credited to its innovation capabilities.

ANS:FPTS:1DIF:MediumREF:71
OBJ:03-01 TYPE: comprehension
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing strategy and innovation

2.People are a critical resource for helping organizations learn how to continuously innovate.

ANS:TPTS:1DIF:EasyREF:72
OBJ:03-03 TYPE: comprehension
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing human capital

3.Firms should seek to continually develop new core competencies because all core competencies have limited life spans.

ANS:TPTS:1DIF:EasyREF:72
OBJ:03-01 TYPE: comprehension
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills

4.The sustainability of a competitive advantage depends upon the imitability of the core competence, the availability of substitutes for the core competence, and the rate of obsolescence of the core competence.

ANS:TPTS:1DIF:MediumREF:72
OBJ:03-01 TYPE: knowledge
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills

5.Firms achieve strategic competitiveness and earn above average returns when their unique core competencies are effectively acquired, bundled, and leveraged to take advantage of opportunities in the external environment in ways that create value for customers.

ANS:TPTS:1DIF:EasyREF:72
OBJ:03-01 TYPE: knowledge
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills

6.Analyzing the internal environment enables a firm to determine what it might be able to do by identifying what opportunities exist.

ANS:FPTS:1DIF:HardREF:73
OBJ:03-01 TYPE: comprehension
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills

7.Analyzing the internal environment enables a firm to determine what it can do by identifying what opportunities exist.

ANS:TPTS:1DIF:HardREF:73
OBJ:03-01 TYPE: comprehension
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills

8.Given enough time, any firm’s competitive advantage can be imitated by its competitors.

ANS:TPTS:1DIF:EasyREF:72
OBJ:03-01 TYPE: knowledge
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Strategic & systems skills

9.Some resources, such as financial capital, have inherent value to the firm, while others are not inherently valuable.

ANS:FPTS:1DIF:HardREF:73
OBJ:03-01 TYPE: comprehension
NOT:AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Strategic & systems skills

10.In the global economy, traditional factors such as labor costs, access to financial resources and raw materials, and protected or regulated markets are no longer sources of competitive advantage.

ANS:FPTS:1DIF:EasyREF:73
OBJ:03-01 TYPE: knowledge
NOT:AACSB: Multicultural & Diversity | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills

11.A global mind-set is free of the assumptions of a single country, culture, or context.

ANS:TPTS:1DIF:EasyREF:73
OBJ:03-01 TYPE: knowledge
NOT:AACSB: Multicultural & Diversity | Management: Strategy | Dierdorff & Rubin: Strategic & systems skills

12.Analysis of the firm’s internal organization examines the firm’s portfolio of...
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