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Campbell Soup uses electronic networks to improve the efficiency of outbound logistics. These networks also helped Campbell Soup manage the ordering of raw materials more efficiently,improve its production scheduling, and help its customers better manage their inbound logistics operations. This is an example of ________


A) interrelationships among activities within the firm
B) relationships among activities within the firm and with other stakeholders that are part of the expanded value chain of the firm.
C) relationships among activities outside of the firm
D) interrelationships among activities outside of the firm.

E) A) and B)
F) A) and C)

Correct Answer

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For an engineering services firm, ________ provides inputs, the transformation process is the engineering itself, and innovative designs and practical solutions are the outputs.


A) experimentation
B) customer support
C) research and development
D) human resource management

E) A) and C)
F) B) and D)

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The Germany truck and trailer manufacturer, SchmitzCargobull, mainly serves customers who are operators of truck or trailer fleets. What sets the company apart is its expertise in telematics (the integrated application of telecommunications data) to monitor the current state of any Schmitz Cargobull-produced trailer. What type of a value-chain support activity is this?


A) service
B) technology development
C) human resource management
D) general administration

E) A) and D)
F) B) and C)

Correct Answer

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


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) All of the above

Correct Answer

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The balanced scorecard provides top managers with a ________ view of the business.


A) detailed and complex
B) simple and routine
C) fast but comprehensive
D) long-term financial

E) None of the above
F) A) and D)

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A wide variety of firm resources that are costly to imitate due to the social engineering that is required being beyond the capability of competitors include interpersonal relations amongmanagers in the firm, its culture, and its reputation with its suppliers and customers. Such competitive advantages are based upon


A) path dependency.
B) social complexity.
C) physical uniqueness.
D) tangible resources.

E) C) and D)
F) All of the above

Correct Answer

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According to value-chain analysis, which of the following would be considered part of the general administration in a firm?


A) information systems
B) technology development
C) human resource management
D) procurement

E) A) and D)
F) B) and C)

Correct Answer

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A resource is valuable and rare but neither difficult to imitate nor without substitutes. This should enable the firm to attain


A) no competitive advantage.
B) a temporary competitive advantage.
C) competitive parity.
D) a sustainable competitive advantage.

E) C) and D)
F) None of the above

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Historical comparisons provide information to managers about changes in the competitive position of a firm. Historical comparisons often are misleading


A) if the overall strategy of the firm is the same.
B) if the firm shows constant growth.
C) in periods of recession or economic boom.
D) if the firm's stock is publicly traded.

E) A) and D)
F) A) and C)

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According to Michael Porter in his book, Competitive Advantage, a key concept used in analyzing the competitive position of a firm is creating value for


A) buyers that exceeds the costs of production (i.e., margin) .
B) suppliers that exceeds the costs of production (i.e., margin) .
C) government that exceeds the costs of production (i.e., margin) .
D) employees that exceeds the costs of production (i.e., margin) .

E) A) and C)
F) B) and D)

Correct Answer

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Which of the following examples demonstrates how successful organizations manage their primary activities?


A) Motorola has revised its compensation system to reward employees who learn a variety of skills.
B) Wal-Mart implemented a sophisticated information system that resulted in reduced inventory carrying costs and shortened customer response times.
C) National Steel improved its efficiency by reducing the number of job classifications.
D) JIT inventory systems are vital to Toyota committing to fulfill new car orders within five days.

E) A) and B)
F) A) and C)

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Making comparisons between a firm and its most direct rivals is useful because firms within the same strategic industry group have ________ strategies.


A) different
B) the same
C) similar
D) relative

E) A) and D)
F) B) and C)

Correct Answer

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Many firms are finding that high-tech, computerized training has dual benefits. It develops employees who are more effective and reduces costs at the same time. Employees at FedEx takecomputer-based job competency tests every 6 to 12 months. This is an example of a(n) ________ ________ tangible resource.


A) financial
B) organizational
C) physical
D) technological

E) C) and D)
F) All of the above

Correct Answer

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Regarding the value-chain concept, the most important interrelationship is between the organization and its


A) board of directors.
B) employees.
C) customers.
D) management.

E) B) and C)
F) All of the above

Correct Answer

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An important implication of the balanced scorecard approach is that


A) managers need to recognize that satisfaction of stockholder demands is their primary job.
B) the emphasis on customer satisfaction and financial goals are only a means to that end.
C) managers should not look at their job as primarily balancing stakeholder demands.
D) gains in financial performance must come at a cost of employee satisfaction.

E) A) and D)
F) B) and C)

Correct Answer

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Mercedes-Benz aggressively pushed for product placement in Hollywood movies. This is an example of which value chain primary or support activity?


A) support activity: general administration
B) primary activity: service
C) support activity: procurement
D) primary activity: marketing and sales

E) All of the above
F) B) and C)

Correct Answer

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For a firm such as Nordstrom that has no manufacturing operations, value is added by developing expertise in the procurement of finished goods and by displaying them in its stores in awaythat enhances sales. In the value chain, procurement activities become the primary activity. This begins with ________ and ends with ________.


A) purchasing goods; operating stores
B) managing and distributing inventory; marketing and selling
C) partnering with vendors; marketing and selling
D) partnering with vendors; operating stores

E) None of the above
F) B) and D)

Correct Answer

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The resource-based view (RBV) of the firm combines the following two perspectives:


A) the primary and support activities of the firm.
B) the interrelationships among the primary activities of the firm and corporate management.
C) the internal analysis of the firm and the external analysis of the industry and competitive environment.
D) the industry and the competitive environment.

E) C) and D)
F) B) and D)

Correct Answer

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Advertising is a ________ activity. Supply of replacement parts is a ________ activity.


A) support; primary
B) primary; primary
C) primary; support
D) support; secondary

E) All of the above
F) A) and B)

Correct Answer

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In value-chain analysis, value is measured by the market value of the total stock outstanding of the company.

A) True
B) False

Correct Answer

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