The Management of Strategy Concepts International Edition 10th Edition by R. Duane Ireland – Test Bank

The Management of Strategy Concepts International Edition 10th Edition by R. Duane Ireland – Test Bank

Chapter 3—The Internal Environment: Resources, Capabilities, Competencies, and Competitive Advantages

TRUE/FALSE

1.The Chapter 3 Opening Case demonstrates that although conditions in the economic environment influenced Subway’s success, the manner in which Subway used its resources and capabilities also influenced that success.

ANS: T PTS: 1 DIF: Easy OBJ: Application

NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing strategy & innovation | Bloom: Application

2.People are a critical resource for helping organizations learn how to continuously innovate.

ANS: T PTS: 1 DIF: Easy OBJ: Comprehension

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing human capital | Bloom: Comprehension

3.Firms should seek to continually develop new core competencies because all core competencies have limited life spans.

ANS: T PTS: 1 DIF: Easy OBJ: Comprehension

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Comprehension

4.The sustainability of a competitive advantage depends upon the rate of obsolescence of the core competence, the availability of substitutes for the core competence, and the imitability of the core competence.

ANS: T PTS: 1 DIF: Medium OBJ: Knowledge

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Knowledge

5.Firms achieve strategic competitiveness and earn above average returns by acquiring, bundling, and leveraging their resources for the purpose of  taking advantage of opportunities in the external environment in ways that create value for customers.

ANS: T PTS: 1 DIF: Easy OBJ: Knowledge

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Knowledge

6.Analyzing the internal environment enables a firm to determine what it might do by identifying what opportunities and threats exist.

ANS: F PTS: 1 DIF: Hard OBJ: Comprehension

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Comprehension

7.Analyzing the internal environment enables a firm to determine what it can do by identifying resources, capabilities, and core competencies in the internal organization.

ANS: T PTS: 1 DIF: Medium OBJ: Comprehension

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Comprehension

8.Given enough time, any firm’s competitive advantage can be imitated by its competitors.

ANS: T PTS: 1 DIF: Easy OBJ: Knowledge

NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Strategic & systems skills | Bloom: Knowledge

9.Understanding how to leverage the firm’s unique bundle of resources and capabilities is a key outcome decision makers seek when analyzing the internal organization.

ANS: T PTS: 1 DIF: Medium OBJ: Comprehension

NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Strategic & systems skills | Bloom: Comprehension

10.In today’s global economy, traditional factors such as labor costs, access to financial resources and raw materials, and protected or regulated markets are less likely to become core competencies and possibily competitive advantages.

ANS: T PTS: 1 DIF: Easy OBJ: Knowledge

NOT:AACSB: Multicultural & Diversity | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Knowledge

11.A global mind-set is free of the assumptions of a single country, culture, or context.

ANS: T PTS: 1 DIF: Easy OBJ: Knowledge

NOT: AACSB: Multicultural & Diversity | Management: Strategy | Dierdorff & Rubin: Strategic & systems skills | Bloom: Knowledge

12.Resources are the source of capabilities, some of which lead to the development of core competencies; in turn, some core competencies may lead to competitive advantage.

ANS: T PTS: 1 DIF: Easy OBJ: Knowledge

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Knowledge of general business functions | Bloom: Knowledge

13.Value is measured by the variable and fixed costs associated with the production and marketing of a particular product compared with the revenue and profits the product generates.

ANS: F PTS: 1 DIF: Medium OBJ: Comprehension

NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing strategy & innovation | Bloom: Comprehension

14.Value is created when firms innovately bundle and leverage their resources to form capabilities and core competencies.

ANS: T PTS: 1 DIF: Easy OBJ: Knowledge

NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing strategy & innovation | Bloom: Knowledge

15.Creating customer value is the source of the firm’s potential to earn above-average returns.

ANS: T PTS: 1 DIF: Easy OBJ: Comprehension

NOT:AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Strategic & systems skills | Bloom: Comprehension

Test Bank for “The Management of Technology and Innovation: A Strategic Approach,” 2nd Edition by Margaret A. White

Overview:

• Title: The Management of Technology and Innovation: A Strategic Approach
• Edition: 2nd
• Author: Margaret A. White
• Focus: This textbook explores the strategic management of technology and innovation within organizations. It provides insights into how companies can leverage technology and innovation to gain competitive advantages and drive business success.

Content Details:

1. Introduction to Technology and Innovation Management:
   • Overview of the role of technology and innovation in modern business environments.
   • Explanation of key concepts, such as innovation processes, technological change, and innovation management.
   • Discussion of the importance of aligning technology and innovation strategies with overall business objectives.
2. Strategic Management of Technology:
   • Exploration of strategic frameworks and tools for managing technology in organizations.
   • Analysis of technology life cycles, including introduction, growth, maturity, and decline phases.
   • Discussion on how to assess and select technologies that align with strategic goals.
3. Innovation Processes:
   • Examination of different types of innovation, including incremental, disruptive, and radical innovation.
   • Analysis of the innovation process from idea generation to commercialization.
   • Discussion on the role of research and development (R&D) in driving innovation.
4. Technology and Innovation in Competitive Strategy:
   • Exploration of how technology and innovation can be used to build and sustain competitive advantages.
   • Analysis of the role of intellectual property, patents, and trademarks in protecting innovations.
   • Discussion on the challenges of maintaining innovation leadership in dynamic industries.
5. Organizational Structures and Cultures for Innovation:
   • Examination of organizational designs that foster innovation, including cross-functional teams and agile structures.
   • Discussion on creating a culture that supports innovation, risk-taking, and continuous improvement.
   • Analysis of leadership styles that encourage and sustain innovation within teams.
6. Managing Technological Change:
   • Exploration of strategies for managing technological change and disruption in organizations.
   • Discussion on the challenges of adopting new technologies and overcoming resistance to change.
   • Case studies on successful and failed technology adoption initiatives.
7. Globalization and Innovation:
   • Analysis of the impact of globalization on technology and innovation management.
   • Discussion on the opportunities and challenges of global collaboration and innovation networks.
   • Examination of how multinational companies manage innovation across different regions and markets.
8. Ethics and Social Responsibility in Technology Management:
   • Discussion on the ethical considerations and social responsibilities associated with technology and innovation.
   • Analysis of the impact of technological advancements on society, including privacy, security, and environmental concerns.
   • Exploration of the role of corporate social responsibility (CSR) in technology management.
9. Interactive Features of the Test Bank:
   • Multiple-Choice Questions: Assess knowledge of key concepts in technology and innovation management.
   • True/False Questions: Test understanding of strategic approaches to technology management.
   • Short Answer Questions: Encourage articulation of the innovation process and its strategic importance.
   • Essay Questions: Provide opportunities for in-depth analysis of technology management strategies and case studies.
   • Case Studies: Present real-world scenarios for students to apply their knowledge of technology and innovation management.

Conclusion:

The test bank for “The Management of Technology and Innovation: A Strategic Approach,” 2nd Edition by Margaret A. White, serves as a crucial resource for educators and students. It offers a comprehensive set of questions and case studies designed to test and deepen understanding of strategic technology and innovation management. By engaging with this material, students will be better equipped to navigate the complexities of managing technology and innovation in today’s fast-paced business environment, helping them to contribute effectively to their organizations’ success.