b. Attempts to marry the network perspective with the resource-based perspective have been primarily motivated by the need to address a key limitation of the latter—namely, the focus only on a firm's internally held resources in explaining a firm's ability to generate rents (Lavie, 2006). Capabilities determine the way a company makes decisions to achieve farm objectives. There are similarities, too, between the deterioration of tangible resources mentioned in Chapter 3 "Resources and Bathtub Behavior" and the decay of intangible resources. B) financial resources, physical resources, and the capacity to combine intangible resources. Which Of The Following Is Considered An Intangible Resource? Tangible resources include equipment’s, buildings, etc, whereas intangible resources include skills and knowledge about the product. c. the key to competitive success is the structure of … Definition. Ratings 75% (4) 3 out of 4 people found this document helpful. A firm’s capabilities refer to its capacity to deploy resources that have been purposely integrated to achieve a desired end state. However, little empirical work has been undertaken to address this issue. c. profits in excess of what an investor expects to earn from a historical pattern of performance of the firm. Course Title BUS 1101. The benefits of affinity groups at law firms are tangible and intangible says Virginia Essandoh director of diversity at Ballard Spahr Andrews & Ingersoll. all the money, form whatever source, that firms … To achieve this, organizations need to follow a strategic human resource management (SHRM) approach. Including intangibles when estimating a firm’s value has a greater impact on smaller companies. The current ratio is a rough indication of a firm's ability to service its current obligations. The fundamental purpose for the existence of any organization is described by its. Term. Resources are often classified into categories such as tangible (e.g. 1. A URL can provide the users identity, the web … Q 4. Ans: T Page: 200. Course: International Strategic Marketing (MKT304) 1. out of 28. Identify valuable, rare and costly to imitate resources. Firms with similar types and amounts of resources are likely to have similar strengths, similar weaknesses, and use similar strategies. The concept of competitive advantage needs to be tested empirically to determine the competitive pri- orities which create a firm’s competitiveness. Our solutions are based on the unique strategic objectives and environment of your organization, Q1. Pages 62. a. a strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines b. a strategy at the business-unit or product-line level that focuses on improving a firm's competitive position According to the text, intellectual capital is the difference between the market value and the book value of a firm. Capitalized Excess Earnings method determines the business value by summing the net tangible value of the business assets with the capitalized value of the “excess” earnings. trademarks, brand reputation, patents and licenses) or physical, human and organizational resources. And at U.S. Bank that had to start with job analysis. ... Tangible resources are those that can be touched or quantified readily. The tangibility of a firm’s resources is an important consideration within resource-based theory. a resource is a productive input or competitive asset, while a capability is the capacity of the firm to perform some internal activity competently. VRIO Core Competencies (Long-Term Competitive Advantages) of Walmart. Resource Similarity Resource Similarity Extent to which firm’s tangible/intangible resources are comparable to competitor’s in type and amount. Definition. Thus, as summarized in the following figure, SHRM is an integral part of the control portion of the planning-organizing-leading-controlling (P-O-L-C) framework. A. The resource-based view as a basis for a competitive advantage of a firm lies primarily in the application of the bundle of valuable intangible and tangible resources at the firm’s disposal. Q 5. opportunity costs: The overall cost of something missed; through deciding to do ‘A’, an individual or organization incurs the opportunity cost of doing ‘B’. The more similar the types and amounts of resources the more direct the competition is between two firms. c. It consists of only primary activities and support activities. Thus, generic resources get richer for disaster-afflicted firms over time. competing in the motor service industry in Kenya. It is a critical resource of an organization. It will do the customer service call centre function itself. After all, in the New Economy a firm's value is based much more on knowledge, know-how, and intellectual assets — not the traditional factors of production (i.e., labor and capital). What are the tangible and intangible resources of an organization? Chapter 4 - Question Bank. The three types of intangible resources are human, innovation, and reputational. A useful way to identify a company’s resources is to view them as: divided into two main categories, tangible and intangible. B. Responsiveness. Tangible resources include equipment’s, buildings, etc, whereas intangible resources include skills and knowledge about the product. Free. Scientific Capabiliti Production Equipment C. Manufacturing Plants D. Formal Reporting Structures 6. Strategic Management MCQ Questions and answers with easy and logical explanations. delegate authority and responsibilities. The physical assets that an organization possesses are called tangible resources. Brand is the expressed combination of perceptions about a firm’s people, ideas, and conduct. 54. the firm's chargeout rate/industry average chargeout rate. A firm’s capabilities refer to its capacity to deploy resources that have been purposely integrated to achieve a desired end state. Empathy. : 3.2: Describe Four Types of Resources and CapabilitiesAACSB: Analytical Thinking 2) Resources in the resource based view areCourseMerit is a marketplace for … Some resources are clearly visible and tangible and others may not. Q 26. Generally, the higher the current ratio, the greater the cushion between current obligations and a firm's ability to pay them. Resource BasedView In every business there are many types of resources and assets. Which of the following statements accurately describes a firm's resource stock? Establishing an MBO system is a continuing process and includes the following steps: 1. School University of the People. According to the resource-based view of a firm, which of the following assets of Smooth Fusion As a manager or entrepreneur, you will be challenged to understand fully the strategic value of your firm’s tangible and intangible resources. a. external threats and opportunities To date, most of the project management literature has focused on the tangible assets and codified knowledge as shared through project management offices, methodologies, and tools and techniques (Kloppenborg & Opfer, 2002; Ulri & Ulri, 2000). In this sense, a firm's assets include physical resources such as office furniture and computer systems, of course, but also non-physical resources such as employee skills and a strong brand image. The five forces framework includes all of these forces except: Buyer bargaining power. The proposed guidance is intended to consolidate and clarify the Federal Reserve's existing supervisory expectations regarding risk management. ALLIANCE RESOURCE PARTNERS, L.P. is a small-cap growth stock in the Coal industry. Major proponents were Wernerfelt, B. The appearance of employees B. B) attracting and retaining knowledgeable workers. NPS surveys: Management tools that can be used to gauge the loyalty of a firm’s customer relationships. 55. The intangible value can be made up of the client list, workforce in place, brand name, and goodwill. While the physical makeup of a computer is different than that of a building and a delivery truck is larger than a moving dolly, such physical differences in company assets are not relevant for purposes of accounting. MGT603 Strategic Management Solved MCQs Set 6. A) Resource stocks are a firm's level of resources that are common to competitors. tangible resources create sources of sustainable com- implications for using tangible resources to create petitive advantage for the case study firm, which, in turn, sources of sustainable competitive advantage for firms contribute to the firm’s consistent superior performance. The definition of the dimensions of OL seeks to incorporate the most recent literature on this issue. Section 2 presents the the-oretical background of a model that connects OL, flexibility, competi-tive strategy, and performance, as shown in Fig. The following types of content do not constitute statements or implications about prior success within the meaning and intent of this regulation: (1) Communications regarding fields of practice that conform to the requirements of SCR 3.130(7.40); (2) Factual information regarding a lawyer’s or law firm’s experience in d. Tangible resources and capabilities are assets that are observable and easily quantified. Which of the following would not be considered a tangible clue? The stronger ratio reflects a numerical superiority of current assets over current liabilities. Page-10 section-5 According to the resource based view, which of the following is a tangible resources or capability of the firm: A. HRM involves all managerial decisions, policies and practices that influence human resources directly. Thus the scope of internationalization strategies is influenced by a firm’s tangible and intangible resources (Tan, Plowman, & Hancock, 2007). JRogers Consulting LLC (JRC) is a woman-owned small business that tackles our clients’ most pressing challenges. The contribution of OL to competitive strategy includes BPL 5100 chapter 3Chapter 3 1) Capabilities are a subset of a firm's resources and are defined as tangible and intangible assets that enable a firm to take full advantage of other resources it controls.Answer: Diff: 1Learning Obj. B) Resource stocks are a firm's future estimate of both tangible and intangible resources. Some resources are clearly visible and tangible and others may not. Was the result of which of the following would not be considered a tangible resources and capabilities are tangible... C. the firm ’ s land and building of perceptions about a firm ’ s resources is an incomplete of... 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