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10 Cards in this Set
- Front
- Back
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Name three general types of resources other than intellectual property. Hint: DO NOT PUT "Patents", "Copyrights" or "Trademarks" in this section! |
Ownership of a natural resource Superior location Building or other real estate |
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Underline a combination of terms (one from each parenthetical group) that makes the sentences true.
Intel’s superior ability to innovate within its microprocessor platform (is, is not, may or may not be, cannot possibly be) a capability, which is a/an (illegal, general, specific) practice of the (firm, market, strategic group) which is (mandatory, easy, hard, fun) to document and describe in detail. Compared with resources, capabilities are (more, less, explosively un-) stable and (more, less, sadly, ludicrously) easily traded. |
Is Specific Firm Hard Less |
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Evaluate these three statements, then check the box next to the true ones (and leave the box blank next to the false ones.) Forecast accuracy in money-market funds is a capability because…
□ I. It is specific to each organization (i.e., each fund) □ II. It is independent of economic returns that the organization keeps □ III. It is related to organizational growth as both consequence & cause |
□ I. It is specific to each organization (i.e., each fund) □ III. It is related to organizational growth as both consequence & cause |
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According to Makadok’s model, which of the following predict(s) how firms can increase profitability by acquiring assets? Check all that apply. □ The asset complements the winning firm’s resources more than the losing firm’s resources □ The firm with better ability to forecast the asset’s value will have a better outcome when it wins the auction □ The firm with better ability to forecast the asset’s value will have a better outcome when it loses the auction □ The acquiring firm has capabilities that directly or indirectly substitute for the asset □ The acquiring firm has resources that directly substitute for the asset |
□ The asset complements the winning firm’s resources more than the losing firm’s resources □ The firm with better ability to forecast the asset’s value will have a better outcome when it wins the auction □ The firm with better ability to forecast the asset’s value will have a better outcome when it loses the auction |
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Which of the following are organizational dimensions of capability development? [Check all that apply.] □ Functional, customer-focused, or matrix management forms that determine authority relationships □ Control and coordination systems, through which tasks are designed and executed □ Selection of industries in which the firm’s resources are valuable □ Selection of firm-level strategies in which the firm’s capabilities are valuable □ Functional, customer-focused, or matrix management forms that determine authority relationships □ Incentive systems that focus attention on strategically important tasks □ Selection and development of people and the strength of the firm’s culture |
□ Functional, customer-focused, or matrix management forms that determine authority relationships □ Control and coordination systems, through which tasks are designed and executed □ Functional, customer-focused, or matrix management forms that determine authority relationships □ Incentive systems that focus attention on strategically important tasks □ Selection and development of people and the strength of the firm’s culture |
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When multiple resources are complementary, the total (cost, benefit) of (acquiring, owning) them (separately, together) is (greater than, less than, the same as) the sum of the (costs, benefits) of owning them separately. |
Benefit Owning Together Greater than Benefits |
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When multiple resources are substitutes, the total (cost, benefit) of (acquiring, owning) them (separately, together) is (greater than, less than, the same as) the sum of the (costs, benefits) of owning them together. |
Benefit Owning Separately Less than Benefits |
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Which of the following is/are true about the relationships among capabilities, strategic positioning, & organization? [Check all that apply.] □ A capability does not need to be specifically associated with particular activities and programs within the organization; general support of the strategy is enough. □ Positions indicating extreme value/high differentiation and low-cost advantage both require highly consistent execution. □ The less consistent an organization’s activities are, the more difficult they are to change. □ Hierarchical referral is typically the last resort for competent middle-level managers to resolve their differences. □ Higher-level managers infer that mid-level managers who frequently use hierarchical referral have high levels of managerial competence |
□ Positions indicating extreme value/high differentiation and low-cost advantage both require highly consistent execution. □ Hierarchical referral is typically the last resort for competent middle-level managers to resolve their differences. |
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Fill in the blanks with the correct answers, according to MCS, to the following "Mad Libs"-style questions about compensation & incentive systems. Pay for performance via ________ _________, when possible, is the (NOUN) (NOUN) clearest, most direct policy for linking compensation to strategy execution. An effective compensation system must measure task ___________, set appropriate _____________ for each, and ______________ (NOUN) (PLURAL NOUN) (VERB) employees for achieving them. If employees split their time between an easy-to-measure task and a hard-to-measure task, the _____________ problem (NOUN) will cause them to put more effort into the ____________-to-measure task. |
piece rate outcomes goals or targets reward alignment easy |
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Consistency or "fit" has a very specific definition in the context of strategy execution. It means that a firm’s policies and practices today embody which literary property? [For zero points of extra credit and a feeling of internal satisfaction, feel free to identify the source of each pretentious allusion.] □ Being as constant as the Northern Star (i.e., do not change over time) □ Being able to know what the (customer) wants, and how to make (them) think (they’re) getting it (i.e., are aligned with the demands of its current market position) □ They are what the firm eats (i.e., are determined by the resources and capabilities it possesses) □ A single green light, minute and faraway (i.e., represent progress towards the firm’s future goals of superior performance) □ The hobgoblin of little minds (i.e., seeking consistency or "fit" is foolish.) |
□ Being able to know what the (customer) wants, and how to make (them) think (they’re) getting it (i.e., are aligned with the demands of its current market position)
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