Strategic Management - Study Mode
[#106] An array of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its customers and suppliers. Such competitive advantages are based upon
Correct Answer
(C) social complexity
Explanation
Solution: An array of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its customers and suppliers. Such competitive advantages are based upon social complexity. Social complexity is the study of the phenomena of human existence – emigration patterns, armed conflicts, political movements, marriage practices, natural disasters, etc, etc – and the many possible arrangements of relationships between those discrete phenomena.
[#107] A company's ability to meet its short-term financial obligations is measured by which of the following categories?
Correct Answer
(A) liquidity ratios
Explanation
Solution: A company's ability to meet its short-term financial obligations is measured by liquidity ratios. Liquidity ratios are an important class of financial metrics used to determine a debtor's ability to pay off current debt obligations without raising external capital.
[#108] Which one of the following does not influence organizational learning?
Correct Answer
(D) Applying activity maps
Explanation
Solution: Applying activity maps does not influence organizational learning. Organizational learning theory states that, in order to be competitive in a changing environment, organizations must change their goals and actions to reach those goals.
[#109] _______ are the organizations major value creating skills, capabilities and resources that determine the organizations competitive weapons
Correct Answer
(C) Core competencies
Explanation
Solution: Core competencies are the organizations major value creating skills, capabilities and resources that determine the organizations competitive weapons. Core competencies are the resources and capabilities that comprise the strategic advantages of a business. A modern management theory argues that a business must define, cultivate, and exploit its core competencies in order to succeed against the competition.
[#110] Which one of the following is not a future pattern identified by Courtney et al. (1997)
Correct Answer
(A) A limited and definable number of discrete alternatives which can be evaluated and judged by strategic managers
Explanation
Solution: A limited and definable number of discrete alternatives which can be evaluated and judged by strategic managers is not a future pattern identified by Courtney et al. (1997).