Question 1

Define capabilities and explain how they affect the firm's strategic success.

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Question 2

What is value? Why is it important?

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Question 3

Describe the four specific criteria that managers can use to decide which of their firm's capabilities have the potential to create a sustainable competitive advantage.

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Question 4

Describe an organization with which you are familiar.Does it have a sustainable competitive advantage? Why or why not?

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Question 5

Describe a value chain analysis.How does a value chain analysis help a firm gain competitive advantage?

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Question 6

Describe the importance of internal analysis to the strategic success of a firm.Should not-for-profit organizations perform internal analyses? Why or why not?

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Question 7

Tools such as __________ help the firm focus on its core competencies as the source of its competitive advantages.

Accepted Answer

Outsourcing allows a firm to delegate non-core activities to external specialists, enabling the firm to concentrate on its core competencies and enhance its competitive advantage.

Question 8

All core competencies have the potential to become core:

Accepted Answer

Core competencies can become core rigidities when they are over-relied upon and fail to adapt to changes in the environment, leading to a lack of innovation and flexibility.

Question 9

Why is it important to identify internal strengths and weaknesses?

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Question 10

Why is it important to prevent core competencies from becoming core rigidities?

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Question 11

Define outsourcing.Why would an organization want to outsource?

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Question 12

What are the differences between tangible and intangible resources? Which category of resources is more valuable to the firm?

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Quiz 3: The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages