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

This video is the song That Thing You Do! by the Wonders. Distribution centers. Relatively moderate rivalry, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Design and emergence strategies involve specific levels of the organiz, It is important to note that the concept of strategy is rele. B) the legitimacy and reputation of a firm, D) the efficiency with which a firm utilizes its assets. Scientific capabiliti Production equipment c. Manufacturing plants d. Formal reporting structures 6. A firm's tangible resource includes which of the following?a. The bands magic vanishes as quickly as it appeared, however. If not, then this resource only provides Southwest competitive parity. competitiveness and earn above-average returns includes which of the following? 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. A firm's tangible resource includes which of the following? The resource-based view focuses on which of the following aspects of resources? A firms tangible resource includes which of the - Course Hero False Resource-based theory suggests that tangible or intangible resources that are valuable, rare, difficult to imitate, and organized to capture value best position a firm for long-term success. What resistance to the change occurred, if any? Consider, for example, a very generic commodity: water. A companys value derives not from things, but from ____________. Expert Answer. Tangible resources are resources that can be readily seen, touched, and quantified. (2020, April 24). Wernerfelt, B. Study with Quizlet and memorize flashcards containing terms like A firm's tangible resource includes which of the following?, A firm's strategy includes which of the following:, T or F: Not all organizations need strategies to survive and thrive. Threats posed by new entrants It. The industry characteristics that make it very difficult for firms to achieve strategic competitivenessand earn above-average returns includes all of the following EXCEPT: Organizational routines d. Production equipmentd; Easy (Comprehension) 3. C) financial resources, physical resources, and technological resources. A clothing manufacturing plant in Cambodia produces pants and shirts for a European clothing designer, distributor, and retailer. For the Unit 8 Learning Journal, reflect for a few minutes on the four functions of management: Planning, Organizing, Leading, and Controlling, represented by the acronym P-O-L-C. C. physical resources, such as the company's brand, image, and reputation . 5 Option A b. Hierarchical diversification Question 5 A firm's tangible resource includes which of the following? 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. Was this amount more or less than the amount they had originally budgeted? It does not help or hurt Southwest competitively. In other words, describe a management practice from the course content relating to each of the four functions of management. Low entry barriers Physical assets such as a firms property, plant, and equipment are considered to be tangible resources, as is cash. Southwest Airlines Boeing 737 Lonestar One (N352SW) at LAS in November 2005. CC BY 2.0. Consider how Southwest Airliness organizational culture serves as a strategic resource. Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingin order to create a unique business model in which effectiveness and efficiency is the envy of competitors. the K-W test? In the case of on-time arrival capability, Southwest Airline enjoys a temporary competitive advantage (the third line), but it is not that difficult for rivals to imitate this ability. Superiority in competitive advantage refers to all of the following factors EXCEPT: a. Which of the following is a support activity? C) National Steel improved its efficiency by consolidating, reducing the number of job classifications, and broadening worker responsibilities. In the airline industry, is Southwests culture hard to imitate? A) interrelationships among functional areas and firm strategies. Acknowledged by top management A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics. Captures how vision and mission will be achieved. B) culture, tangible resources, intangible resources. ORGANIZED TO CAPTURE VALUE: Having in place the organizational systems, processes, and structure to capitalize on the potential of the resources and capabilities of the firm to provide a competitive advantage. a. How has Walgreens used its core competencies to provide value to its customers? ~~~~~\text{Heating fuel} & & 50.00 & 15.00\\ B. productive inputs or competitive assets, except human assets and intellectual capital, which are considered capabilities or competencies. \text{Food} & & \$160.00 & \$175.70\\ ~~~~~\text{Electric bill} & & 45.00 & 44.35\\ Cross), Civilization and its Discontents (Sigmund Freud), Psychology (David G. Myers; C. Nathan DeWall), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Give Me Liberty! True D) outstanding customer service, innovativeness of products, and reputation. A resource or capability is said to be ____________ if it allows the firm to exploit. 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. Low entry barriers When analyzing organizations, however, common resources such as cash and vehicles are not considered to be strategic resources. ~~~~~\text{Movies} & & 10.00 & 5.00\\ Southwest is a rags to riches story that has evolved across several decades. ______________ are assets that can be seen and quantified. economics. Solved 11.- All of the following are tangible resources - Chegg Tangible resources include all except which of the following? A) physical uniqueness, path dependency, causal ambiguity, and social complexity. C) financial analysis and stakeholder perspectives. All Rights Reserved. 4.3 Resource-Based View - Strategic Management - Virginia Tech & &\text{Amount}& \text{Amount}\\ c. Gobal economic conditions LegacyRecordingsVEVO. Option A is incorrect here. Ideally, a firm will its own resources, like Southwests culture, that embrace the four VRIO qualities shown in Table 4.1. If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will D) Compare the financial ratios of firms in the company's strategic group. Physical assets such as a firm's property, plant, and equipment, as well as cash, are considered to be tangible resources. Correct Answer: Explore answers and other related questions. B) interpersonal relations among a firm's managers. accounting. B. Planning The following are examples of socially complex organizational phenomena except. A resource-based view of the firm. As water becomes more and more rare, landowners in Maine stand to benefit. RARE resources are those held by few or no other competitors. Suppliers and buyers with little bargaining power c. Strong competitive threats from product substitutes See Page 1. Ans. Humans simply cannot live without water, so water has inherent value. C) Every organization has a routine that it follows for its procedures and processes. ~~~~~\text{Emergency fund} & & 50.00 & 50.00\\ A firms tangible resource includes which of the following? : Superiority in competitive advantage refers to all of the following factors: 1) Customer service. A dynamic capability exists when a firm is skilled at continually updating its array of capabilities to keep pace with changes in its environment. Acknowledged by top management When a company's resources are valuable but not rare, the company is said to have which element? Knowledge b. c. To build a portfolio of businesses much like a portfolio of stock Figure 4.2: Planephotoman. Suppliers and buyers with little bargaining power Which of the following would be most difficult to assess? Before long, The Wonders perform on television and That Thing You Do! is a top-ten hit record. Course Hero is not sponsored or endorsed by any college or university. A firm's strategy includes which of the following: Captures how vision and mission will be achieved, Establishes systems and processes used to implement the goals, Sets specific operating procedures to be followed by front line. Option D is the right choice here. Strategic Ch. 4 Flashcards | Quizlet ~~~~~\text{Sporting events/recreation} & & 32.00 & 32.00\\ ~~~~~\text{Pocket Money} & & 60.00 & 72.00\\[10pt] ______________ are the competencies or skills that a firm employs to transform inputs into outputs. Capacity for innovationc. To help them develop an environment in which knowledge is widely spread across all, employees, some organizations have created the new upper-level managerial position of. In determining stakeholders who should be consulted as strategy is developed, companies often develop an incomplete list. ___________ are associated with collecting, storing, and distributing the product or service to buyers. Solved 5. Which of the following is considered an intangible - Chegg O - Not all organizations need strategies to survive and thrive. It is not hard to imagine a day when companies in Maine make huge profits by sending giant trucks filled with water south and west or even by building water pipelines to service arid regions. b. : Other difficult-to-imitate resources, such as brand names, usually need time to develop fully. A resource is valuable and rare but neither difficult to imitate nor without substitutes. On occasion, events in the environment can turn a common resource into a strategic resource. If not, then it still only provides a temporary competitive advantage. opportunities or negate threats in the environment. Complete the following statements using either "debit" or "credit": (b) The owner's capital account is increased with a _________. These strategic resources can provide the foundation to develop firm capabilities that can lead to superior performance over time. a. Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. managers should focus exclusively on the current market environment. The particular bundles of resources and capabilities that provide unique advantages to the, Core competencies are resources and capabilities that serve as a source of a firms. Which of the following is an example of a technological resource? A US firm has outsources its textile manufacturing to aBangledesh for the last 10 years. Experts are tested by Chegg as specialists in their subject area. According to resource-based theory, organizations that own strategic resources have important competitive advantages over organizations that do not. B) effective information systems contributing significantly to a firm's overall cost leadership strategy. A firms tangible resource includes which of the following? False In contrast, intangible resources are quite difficult to see, to touch, or to quantify. Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels. Low cost This is an example of which concept? Executives who wish to achieve long-term competitive advantages should therefore place a premium on trying to nurture and develop their firms intangible resources. Production equipment B) in periods of recession or economic boom. Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. For firms such as Walgreen Co. (a chain of drugstores), information systems have been a source of competitive advantage by enabling them to. In a 300-500 word Learning Journal, identify a management principle or method from the course for each of the four functions of management. Explore our library and get Management Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely, 2020-2023 Quizplus LLC. In value chain analysis, the activities of an organization are divided into two major categories of value activities: primary and support. d. Threats posed by new entrants D) gains in financial performance and customer satisfaction must often come at a cost of employee satisfaction. Congratulations on advancing to the final unit of BUS 1101, the opening course in your degree program! BUS 1101 Ch. 5 Flashcards | Quizlet The Cambodian plant is an example of which type of business? C) criteria for lease versus purchase decisions. Trading in strategic resources: Necessary conditions, transaction cost problems, and choice of exchange structure. Despite Mattinglys objections, Guy spontaneously adds an up-tempo beat to a sleepy ballad called That Thing You Do! during a local talent contest. The best measure of a company's ability to meet imminent financial obligations is known as the. A firms tangible resource includes which of the following a - Studocu If yes, go to number 3. This too is intangible in nature, making Option B an incorrect choice. Most airlines struggle to be profitable, but Southwest makes money virtually every year. 6/28/2017 Chapter 5 Quiz: MAN3025 RVEB 1175 4 / 4 ptsQuestion 6 In the value chain, which of the following activities is deemed to add direct value to a firm? If yes, go to number 4. Based on your personal or professional experience, provide an example of when one of these forces caused an organization to change. A useful tool for taking stock of organizational capabilities is the ______________. A strategic resource is an asset that is valuable, rare, difficult to imitate, and organized to capture value (Barney, 1991; Chi, 1994). Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. Option C is also incorrect here. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. b. 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. Consider the market for minivans. Barney, J. Executives strongly encourage flight attendants to entertain passengers, like hiding in an overhead compartment. A firm's tangible resource includes which of the following? Choose question tag. If not then culture provides Southwest with a temporary competitive advantage over its rivals, but competitors can imitate it. O - Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to aparticular market niche It depends on the culture and structure of the organization. Customer service Which of the following examples demonstrates how successful organizations manage their primary activities? [Video]. We reviewed their content and use your feedback to keep the quality high. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Verified answer. ~~~~~\text{Savings} & & 100.00 & 100.00\\ The XYZ Corp. is taking advantage of a ____________ system. ~~~~~\text{Life/car insurance premiums} & & 132.50 & 132.50\\

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