Assignment:
Question 1 Which of the following is one of the four Ps of the marketing mix?
- Process
- Physical evidence
- People
- Promotion
- Planning
QUESTION 2 Which of the following is true about transaction cost economics?
- 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.
- It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them.
- It is a theory that examines the extent to which firms copy each other's strategies.
- It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs.
- It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.
QUESTION 3 A value chain differs from a supply chain in that a value chain:
- is a system of people, activities, information, and resources involved in creating a product and moving it to the customer.
- charts the path by which products and services are created and eventually sold to customers.
- is a broader concept than a supply chain.
- concept is fixated on how fast products can be made available to consumers.
- creation requires the components of agility, adaptability, and alignment.
QUESTION 4 _____ provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.
- Patents
- Copyrights
- Trademarks
- Trade secrets
- Inventor rights
QUESTION 5 Which of the following is a primary activity that value chains include?
- Procurement
- Firm infrastructure
- Service
- Technology
- Human resource management
QUESTION 6
A resource is _____ to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats.
- rare
- difficult to imitate
- non-substitutable
- executable
- valuable
QUESTION 7 Which of the following is an example of a patent?
- Richard James's Slinky
- McDonald's golden arches
- The Nike swoosh
- The formulation of Coca-Cola
- Original artistic creations, like books
QUESTION 8 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.
- copyright
- trademark
- trade secret
- patent
- inventor right
QUESTION 9 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?
- Resource-based theory
- Enactment
- Transaction cost economics
- Environmental determinism
- Institutional theory
QUESTION 10 Trademarks:
- are phrases, pictures, names, or symbols used to identify a particular organization.
- provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.
- are legal decrees that protect inventions from direct imitation for a limited period of time.
- refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors.
- provide exclusive rights to the creators of formulas, practices, and designs and allow them to keep those a secret.
QUESTION 11 Which of the following is least likely to meet the criteria for strategic resources?
- A firm's raw material inventory
- A firm's organizational culture
- A firm's reputation
- A firm's intellectual properties
- A firm's employees' skills
QUESTION 12 According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.
- availability
- dynamism
- rarity
- tangibility
- competitiveness
QUESTION 13 Which of the following refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors?
- Patents
- Copyrights
- Trademarks
- Trade secrets
- Inventor rights
QUESTION 14 Which of the following is one of the four components required for creating best value supply chains?
- Strategic value chain management
- Adaptability
- Technology
- Diversification
- Operations
QUESTION 15 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?
- Resource-based theory
- Enactment
- Transaction cost economics
- Environmental determinism
- Institutional theory
QUESTION 16 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.
- competitive
- distinctive
- strategic
- dynamic
- evolving
QUESTION 17 Which of the following is true about institutional theory?
- 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.
- It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them.
- It is a theory that examines the extent to which firms copy each other's strategies.
- It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs.
- It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.
QUESTION 18 _____ is one of the five support activities that value chains include.
- Inbound logistics
- Technology
- Operations
- Service
- Marketing and sales
QUESTION 19 The formulation of Coca-Cola is an example of a(n) _____.
- copyright
- trademark
- trade secret
- patent
- inventor right
QUESTION 20 _____ is one of the five primary activities that value chains include.
- Procurement
- Firm infrastructure
- Technology
- Human resource management
- Inbound logistics