When a company determines that a competency provides a competitive advantage, Barney refers to this issue as

• value

• rareness

• imitability

• organization

According to Barney's VRIO framework, the firm's exploitation of a competency pertains to

• value

• rareness

• imitability

• organization

Knowledge that can be easily articulated and communicated is known as

• tacit knowledge

• explicit knowledge

• imitable knowledge

• transferable knowledge

Those critical strengths and weaknesses that are likely to determine if a firm will be able to take advantage of opportunities while avoiding threats are called

• SWOT

• competitive forces

• internal strategic factors

• quality accounting

FedEx's application of information technology to all its operations is an example of

• resources

• distinctive competencies

• core competencies

• critical success factors

The ability of competitors to use duplicated resources and capabilities to imitate the other firm's success is called

• imitability

• durability

• transparency

• replicability

Which of the following is not one of the four question areas Barney proposes in his VRIO framework used to evaluate a firm's key resources?

• organization

• durability

• rareness

• valuable

When examining the corporate value chain of a particular product or service, which one of the following is not one of the primary activities that usually occur?

• operations

• inbound and outbound logistics

• auditing and accounting

• marketing and sales

When a company takes apart a competitor's product in order to find out how it works, this process is known as

• durability

• replicability

• reverse engineering

• transparency

When scientists concentrate on quality control and the development of design specifications and improved production equipment, it is referred to as

• basic R&D

• product R&D

• engineering R&D

• life cycle R&D