1. To have the potential to become sources of competitive advantage, resources and capabilities must be valuable, __________, and __________.
a. common, easy to imitate.
b. easy to imitate, difficult to implement.
c. rare, costly to imitate.
d. easy to implement, costly to imitate.
2. Value chain analysis is a tool used to:
a. analyze a firm's external environment for value-creating opportunities.
b. concentrate on a firm's internal environment without exercising concern about the actions of those companies with which the firm competes.
c. understand the parts of the firm's organization that create value and those that do not.
d. determine how long an opportunity in a firm's external environment can be expected to last.
3. Primary activities in the value chain are:
a. the activities most likely to be imitated by competitors.
b. involved in a product's physical creation, its distribution, and its service after the sale.
c. the activities involved when companies are initially established.
d. the activities that the top management team most values.