Question

7.

The tool that enables executives to position an organization to take advantage of particular opportunities in the environment while avoiding or minimizing environmental threats is called_______.

1. PEST analysis

2. SWOT analysis

3. total quality management (TQM) analysis

4. none of the above

8.

The description of activities that comprise the economic performance and capabilities of the firm is known as_______.

1. the value chain

2. process innovation

3. quality assessment

4. none of the above

9.

To sustain competitive advantage, firms must acquire or develop resources that are_______.

1. difficult for competitors to imitate

2. long lasting

3. difficult for competitors to acquire on the market

4. all of the above

10.
Physical resources include_______.

A. production facilities

2. plant locations

3. production capacity

4. all of the above

11.
Which of the following could not be an example of a weakness?

1. product quality

2. fierce competition

3. human resources

4. all of the above

12.
Which type of alternative is always defensive in nature?

1. strength-opportunity

2. strength-threat

3. weakness-opportunity

4. weakness-threat

Answer 1

Answers:- 7. The total that enables executives to position an organization to take advantage of particular opportunities in the environment while avoiding or minimizing environmental threats is called SWOT analysis. So, the answer is Option (b).

8. The description of activities that comprise the economic performance and capabilities of the firm is known as The value chain. So, the answer is Option (a).

9. Option (d) All of the above is the correct answer because, a firm must apply resources that are long lasting and not easily collected by competitors through imitation, transfer, or replication if the firm is to sustain competitive advantage.

10. Physical resources include Option (d) All of the above is the correct answer because, physical resources include all production facilities, plant locations and production capacity.

11. Fierce competition is not an example of a weakness because, it comes from outside of the system and would be an intimidation, not a weakness. So, the answer is Option (b).

12. Weakness-threat alternative is always defensive in nature. So, the answer is Option (d).