Test you understanding of key chapter concepts by working through this quiz. You can check your answer by clicking on the arrow to the right or on what you think the correct answer is. The correct answer will then be revealed to you for that question. Show 1. Whereas Porter concentrates attention externally on markets, advocates of the RBV focus attention:
Answer: c. Internally on organizational capabilities 2. The acronym RBV stands for:
Answer: a. Resource Based View 3. The RBV focuses on internal factors because:
Answer: b. An organization has control over its internal factors only 4. Which of the following are isolating mechanisms identified by Penrose?
Answer: d. All of the above 5. According to the RBV:
Answer: c. Resources and capabilities provide the building blocks for constructing a firm’s strategy 6. Basic types of resources are:
Answer: d. All of the above 7. Examples of capabilities could be the following:
Answer: d. All of the above 8. Which of the following statements is correct?
Answer: b. It is more difficult to assess intangible resources than tangible ones 9. According to Barney, a firm orientated to a product market strategy is unlikely to generate economic rent for which reason:
Answer: c. The market for such resources will value the assets to account for the future earnings potential, making the assets very expensive and eliminating the possibility of earning economic rent What is the resourceThe Resource Based View (RBV) of the firm starts from the concept that a firm's performance is determined by the resources it has at its disposal. The way these resources are used and configured enable the firm to perform and can provide a distinct competitive advantage.
What does the resourceThe Resource-Based View (RBV) is a group of theories proposing that companies are able to establish competitive advantage through internal resources of the firm that are valuable, rare, not imitable, and organized for value capture.
What are the three types of resources in resourceIn RBV model, resources are given the major role in helping companies to achieve higher organizational performance. There are two types of resources: tangible and intangible.
What is resourceThe resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage.
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