MGT400

What does the VRIN framework evaluate?

• Profitability and growth

• Value, rarity, inimitability, non-substitutability

• Customer satisfaction

• Innovation and sustainability

Which of the following is a tangible resource?

• Brand reputation

• Patents

• Manufacturing plants

• Company culture

Dynamic capabilities refer to a firm’s ability to:

• Maintain financial stability

• Modify and adapt resources to changing environments

• Create innovative products continuously

• Secure patents and copyrights

Which resource type includes brand names and buyer loyalty?

• Financial resources

• Intangible resources

• Physical resources

• Organizational resources

What is the main purpose of a SWOT analysis?

• To identify a firm's market share

• To assess strengths, weaknesses, opportunities, and threats

• To evaluate financial performance

• To define customer demographics

Social complexity in resources makes it difficult to:

• Measure costs accurately

• Replicate a firm’s advantages

• Secure customer loyalty

• Achieve economies of scale

Which activity is NOT part of the value chain?

• Marketing and sales

• Manufacturing processes

• Financial auditing

• After-sales services

Benchmarking involves:

• Developing unique strategies

• Comparing performance metrics

• Setting industry standards

• Creating new business models

The purpose of value chain analysis is to:

• Reduce product features

• Maximize value creation while minimizing costs

• Focus on brand building

• Enhance employee training

What is a resource bundle?

• A collection of tangible assets

• A set of complementary resources creating competitive advantage

• A combination of financial and technological assets

• A type of intangible asset