In a weighted competitive strength assessment (like that shown in Table 4.3), the sum of the weights should add up to
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1.0.
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Which of the following is not a means of lowering the otherwise high costs of internally-performed value chain activities?
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Implementing an activity-based cost accounting system that identifies high-cost activities and then eliminating those activities with the highest costs from the company's value chain.
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According to Figure 4.1, which of the following is not pertinent in identifying a company's present strategy?
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The company's strategic intent and the moves it has made to build an attractive value chain
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The value of doing a weighted competitive strength assessment is to
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learn how the company ranks relative to rivals on each of the important factors that determine market success and ascertain whether the company has a net competitive advantage or disadvantage versus its closest rivals.
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In Table 4.2, which one of the following is not an example of a potential market opportunity that a company may have?
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A situation where several of the company's weakest competitors are acquired by one of the company's strong competitors, thus making it easier to steal away customers of the weak competitors.
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A company's value chain
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consists of two broad categories of activities: the primary activities foremost in the company's scheme for creating and delivering value to customers and the requisite support activities that facilitate and enhance the performance of the primary activities.
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Which of the following statements about company value chains is false?
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The combined costs of all the various primary and support activities comprising a company value chain define its internal cost structure.
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Which of the following is most likely to represent a company's most potent resource or capability?
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A distinctive competence in performing a competitively important value chain activity.
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In Table 4.2, which of the following is not an example of a potential external threat to a company's future profitability?
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The company's lack of a well-known brand name.
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The competitive power of a company resource or competitive capability is, in part, determined by whether it
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has competitive value and is hard for rivals to copy.
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In Table 4.2, which one of the following is not an example of a potential weakness or competitive deficiency that a company may have?
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Having a single, unified functional strategy instead of several distinct functional strategies.
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According to Figure 4.5, a company that does a first-rate job of managing its value chain activities relative to competitors
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may be able to achieve competitive advantage either by performing its value chain activities more proficiently than rivals (thus gaining a differentiation-based competitive advantage) or by performing them more cheaply than rivals (thus achieving a cost-based competitive advantage).
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Which one of the following is not a part of determining whether a company's prices and costs are competitive?
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Resource value analysis.
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When a company performs a competitively important activity better than rivals, it is said to have
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a core competence in performing that activity.
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Which one of the following is not part of conducting a SWOT analysis?
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Translating the conclusion about the company's overall business situation into strategic actions to better match the company's strategy to its competitively relevant internal strengths and market opportunities, to correct its important internal weaknesses, and to defend against eternal threats to its future well-being.
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The two most important parts of SWOT analysis are
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(1) drawing conclusions from the four SWOT lists about the company's overall situation and (2) translating these conclusions into strategic actions and an overall strategy that matches the company's internal and external situation.
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Which of the following is an accurate interpretation of the overall competitive strength scores that result from doing a competitive strength assessment (as illustrated in Table 4.3 and explained in the accompanying discussion)?
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High scores indicate which rivals are most vulnerable to competitive attack and low scores indicate companies with strong defenses against competitive attack.
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Evaluating a company's resource capabilities, relative cost position, and competitive strength versus rivals entails examining whether
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the company's present strategy is working well and identifying the company's competitively important resources and capabilities.
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Which of the following is central to the task of identifying the strategy-related issues and problems that merit the front-burner attention of company managers?
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Drawing conclusions about how hard it will be for the company to achieve a sustainable competitive advantage and deciding what actions to take to overcome these obstacles and challenges.
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Benchmarking involves
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comparing how different companies (both inside and outside the industry) perform various value chain activities and then making cross-company comparisons of the costs of these activities.
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