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

C) National Steel improved its efficiency by consolidating, reducing the number of job classifications, and broadening worker responsibilities. Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations? Tangible resources can be understood as the resources of a company that can be seen, and measured and are physical in nature. Power of stockholders C) Compare the financial ratios of all firms in the country's industrysome of whom serve very diverse market segments and have specialized accordingly. b. For a differentiation strategy to be effective, the product difference should NOT be, The different aspects of strategy as distinguished by Mintzberg include which of the, Firms pursuing a differentiation strategy are vulnerable to different competitive threats. ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ True a. (2020, April 24). opportunities or negate threats in the environment. Some resources, such as cash and trucks, are not considered to be strategic resources because an organizations competitors can readily acquire them. d. Controlling A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. What is the firm's secret competitive advantage? Instead, capabilities are needed to bundle, to manage, and otherwise to exploit resources in a manner that provides value added to customers and creates advantages over competitors. Trading in strategic resources: Necessary conditions, transaction cost problems, and choice of exchange structure. Executives strongly encourage flight attendants to entertain passengers, like hiding in an overhead compartment. Capabilities are another key concept within resource-based theory. 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. al., 2010). Captures how vision and mission will be achieved. A firm's strategy includes which of the following? Threats posed by new entrants \text{EXPENDITURES FOR THE MONTH OF JULY} A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. Course Hero is not sponsored or endorsed by any college or university. A firms strategy includes which of the following? Cost leaders must maintain their marketing or face the possible entry of more cost-effectivecompetitors. Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. Firm resources and sustained competitive advantage. One key reason is a legendary organizational culture that inspires employees to do their very best. ~~~~~\text{Heating fuel} & & 50.00 & 15.00\\ Resource-based theory also stresses the merit of an old saying: the whole is greater than the sum of its parts. 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. One resource is lead singer Jimmy Mattingly, who possesses immense musical talent. 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. It is an intangible part of the company. Which of the following is considered an intangible resource? How was the resistance (if any) overcome? An effective way to distinguish resources and capabilities is this: resources refer to what an organization owns, capabilities refer to what the organization can do (Table 4.2). Question: What is the average total cost when two units of labor (L) are employed? EXPENDITURESFORTHEMONTHOFJULY\begin{array}{c} Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following? The table below presents the output and input levels: Also assume that the per unit cost of capital is $10. They consist of warehousing, material handling, delivery operation, order processing, and scheduling. A firm's strategy includes which of the following: a. Also, water cannot be imitated (at least not on a large scale), and no other substance can substitute for the life-sustaining properties of water. Such competitive advantages are based upon. D) reputation with suppliers and customers. (review sheet 4), The tenpoint plan of the new world order-1, Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, The text defines stakeholders as: Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does (Carpenter et. In determining stakeholders who should be consulted as strategy is developed, companies often develop an incomplete list. As another example, what about Southwest Airlines capability to arrive on time at a much higher rate than the industry average? Do firm resources and capabilities add value? B) interpersonal relations among a firm's managers. Before long, The Wonders perform on television and That Thing You Do! is a top-ten hit record. This is an example of, A variety of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its suppliers and customers. The resource-based view includes all except which of the following regarding managers? B) effective information systems contributing significantly to a firm's overall cost leadership strategy. C) marketing expertise increasing a firm's revenues and enabling it to enter new markets. The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above-average returns includes all of the following EXCEPT: a. 2) Product quality. This makes knowledge an intangible resource. Other resources are hard to copy because they evolve over time and they reflect unique aspects of the firm. Tangible goods such as ones car and home are also vital resources. ~~~~~\text{Pocket Money} & & 60.00 & 72.00\\[10pt] Coca-Cola, for example, has an uncanny knack for building new brands and products as the soft drink market evolves. Which of the following would be most difficult to assess? 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. Most other airlines do not have this philosophy. 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. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ Barney, J. The XYZ Corp. is taking advantage of a ____________ system. Supplier and buyers with strong bargaining positions A resource is valuable to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats. Although not a formal band member, Mattinglys girlfriend Faye provides emotional support to the group and even suggests the groups name. 12.-. The intensity of industry competition and an industry's profit potential are a function of which of the following forces of competition? Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Production equipment O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? D. At Intel the key historic decision to abandon memory chips and concentrate upon microprocessors was the result of which of the following? 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. A firm's tangible resource includes which of the following? XYZ Corp. is focusing on the objective of low-cost, high quality, on-time production by minimizing idle productive facilities and workers. : One key reason for their success is a legendary organizational culture that inspires employees to do their very best. Why did it cause this change? Examples include all of the following except: A) negotiating and maintaining ongoing relations with regulatory bodies. Knowledge Suppliers and buyers with little bargaining power A useful tool for taking stock of organizational capabilities is the ______________. Satisfying only one or two of the valuable, rare, difficult-to-imitate, organized to capture value criteria will likely only lead to competitive parity or a temporary advantage. A firm's tangible resource includes which of the following? This is an example of which concept? To satisfy the mission and vision Strategic Management Journal, 5, 171180. D. 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Then discuss how the company caters for their interests and what may happen if their expectations are not met.A water utility companyA multinational food companyA local airport. YouTube. Other difficult-to-imitate resources, such as brand names, usually need time to develop fully. Low entry barriers D) top management providing a key role in collaborating with important customers. b. Hierarchical diversification Ans. firms that execute the design blueprints provided by western firms. Tangible resources are resources that can be readily seen, touched, and quantified. _____________ include assets that are deeply rooted in the firms history and have, The firms capacity to deploy resources that have been purposely integrated to achieve a. desired end state are called _____________. Physical assets such as a firms property, plant, and equipment, as well as cash, are considered to be tangible resources. illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. In assessing its primary activities, an airline would examine. What was the Kujawas total expenditure for the month of July? & & &\text{Actual}\\ A) physical uniqueness, path dependency, causal ambiguity, and social complexity. RARE resources are those held by few or no other competitors. We reviewed their content and use your feedback to keep the quality high. A) financial analysis and a firm's reputation. O - One approach to focusing is to service either industrial buyers or consumers, but not both, Strategic management process is the coordinated means by which an organization chooses itsmission and vision. 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. After their bass player joins the Marines, Lenny elopes on a whim, and Jimmys diva attitude runs amok, the band is finished and Guy is left to wonder what might have been. A) Knowledge. D) tangible resources, intangible resources, and top management. Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. A firm's tangible resource includes which of the following? Competitors have a hard time duplicating resources that are difficult to imitate. Course Hero is not sponsored or endorsed by any college or university. The best strategies, corporate and business, are based on a thorough SWOT analysis. : a. If so, these resources can provide not only a competitive advantage but also a sustained competitive advantageone that will endure over time and help the firm stay successful far into the future. c. Conglomerate diversification C. "Afirm's reputation D. Afirm's headquarters building. C) supports both individual primary and support activities and the entire value chain. A firms tangible resource includes which of the following? The major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumer group is: a. Concentric diversification Southwests culture arose from its very humble beginnings. This customer loyalty is why many passengers choose Southwest over other airlines. Explanation: Tangible resources have a physical form, t, 5. Although the airline industry is extremely competitive, Southwest Airliness turns a profit virtually every year. C) rarity, path dependency, causal ambiguity, and social substitutability. B) in periods of recession or economic boom. A. T or F The resource-based view (RBV) of the firm combines two perspectives: A) the primary and support activities of the firm. Verified answer. D) Compare the financial ratios of firms in the company's strategic group. The following are examples of socially complex organizational phenomena except. Knowledge Capacity for innovation Organizational routines Production equipment. Question 5 A firm's tangible resource includes which of the following? d. Relatively moderate rivalry A dynamic capability exists when a firm is skilled at continually updating its array of capabilities to keep pace with changes in its environment. Low entry barriers While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is: Strategic focus. Southwest Airlines, for example, has developed the capability of providing excellent customer service by building on its strong organizational culture. ~~~~~\text{Parking/tolls} & & 15.00 & 15.00\\[10pt] c. Gobal economic conditions Workers at the Cambodian plant produce the clothing according to the European firm's designs and specifications. Strategy formulation answers the question. a. 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. \text{Transportation}\\ C) rare, valuable, inimitable, nonsubstitutable. B) culture, tangible resources, intangible resources. All Rights Reserved. Ideally, a firm will its own resources, like Southwests culture, that embrace the four VRIO qualities shown in Table 4.1. C) rare, valuable, inimitable, nonsubstitutable, B) in periods of recession or economic boom. 3) Unique style. C) Every organization has a routine that it follows for its procedures and processes. ~~~~~\text{Electric bill} & & 45.00 & 44.35\\ Capacity for innovation Organizational routines d. Production equipment. False Complete the following statements using either "debit" or "credit": (b) The owner's capital account is increased with a _________. Executives who wish to achieve long-term competitive advantages should therefore place a premium on trying to nurture and develop their firms intangible resources. What kind of competitive advantage, if any, does this capability provide? Which of the following is not one of these attributes: For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have the following four attributes. Southwest Airlines culture fits this standard well. EXPENDITURESFORTHEMONTHOFJULY, ActualAmountAmountExpensesBudgetedSpentFood$160.00$175.70HouseholdElectricbill45.0044.35Telephonebill35.0041.20Heatingfuel50.0015.00Waterbill24.5031.70CableTVbill25.0025.00TransportationGasolinepurchases85.00101.70Parking/tolls15.0015.00PersonalClothing40.0031.75Creditpayments50.0041.74Newspapers. Advertising is a ______activity. Figure 4.3: Kindred Grey (2020). Recently, shareholders have been vocal about the importance of products made in the US. Consider, for example, a very generic commodity: water. A firm's tangible resource includes which of the following?a. Receive an answer explained step-by-step. B) rare, inimitable, physically unique, nonsubstitutable. The three key types of resources that are central to the resource-based view of the firm are: A) tangible resources, intangible resources, and organizational structure. accounting. As water becomes more and more rare, landowners in Maine stand to benefit. Distribution centers. A resource that has three or less of the qualities can provide an edge in the short term, but competitors can overcome such an advantage eventually. This video is the song That Thing You Do! by the Wonders. Another is guitarist Lenny Haise, whose fun attitude reigns in the enigmatic Mattingly. While resources refer to what an organization owns, capabilities refer to what the organization can do. ~~~~~\text{Cable TV bill} & & 25.00 & 25.00\\[10pt] False Please Explain, What is the relationship between enterprise information management and self-service portals? Which of the following is an example of innovation resources? Design/methodology/approach A cross-sectional survey research design was used in the study. Power or employees Low cost Note that the decision tree is used to assess resources and capabilities, NOT a firms products, services, or the firm itself. gifts20.0011.65PocketMoney60.0072.00EntertainmentMovies10.005.00Sportingevents/recreation32.0032.00Diningout100.0063.80FixedRent625.00625.00Furniture125.00125.00Savings100.00100.00Emergencyfund50.0050.00Life/carinsurancepremiums132.50132.50Carregistration4.330Pledges/contributions8.330\begin{array}{l c r r} 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. Coca-Cola has an uncanny knack for building new brands and products as the soft-drink market evolves. Captures how vision and mission will be achieved, O - A firms tangible resource includes which of the following? Review the material in Chapter 20 and respond to the following: Discuss the modern quantity theory and the liquidity preference theory. economics. Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. Imagine that a U.S. car manufacturer builds a plant in Mexico, where labor is cheaper. C) financial resources, physical resources, and technological resources. VALUABLE resources aid in improving the organizations effectiveness and efficiency while neutralizing the opportunities and threats of competitors. View the full answer. A resource that is difficult to imitate, or create ready substitutes for is called, The VRIO criterion that determines whether a resource or capability is the source of, competitive advantage recognized that the firm must have the _______________ capability to. If yes, go to number 3. Choose one of the companies below and identify three key stakeholders. A) rare, valuable, mobile, nonsubstitutable. ______________ are the competencies or skills that a firm employs to transform inputs into outputs. Since the firm has two units of capital, the firm's total fixed cost is$20. A) if the overall strategy of the firm is the same. The intersection of IS-LM functions defines four areas. B) Compare the firm's financial ratios over the most recent one-year period. Was this amount more or less than the amount they had originally budgeted? Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. Course Hero is not sponsored or endorsed by any college or university. Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. Choose question tag. When a company's resources are valuable but not rare, the company is said to have which element? Cropped. In the value chain, which of the following activities is deemed to add direct value to a firm? How can the members of an organization reach success doing that thing they do? Communicates to stakeholders the hierarchical corporate structure. On occasion, events in the environment can turn a common resource into a strategic resource. Is Southwests culture rare within the airline industry? The tangibility of a firms resources is an important consideration within resource-based theory. : an American History (Eric Foner), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham), Psychology (David G. Myers; C. 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