801. ________ is/are the source of a firm’s________, which is/are the source of the firm’s________.
A. Resources, capabilities, core competencies
B. Capabilities, resources, core competencies
C. Capabilities, resources, above average returns
D. Core competencies, resources, competitive advantage

802. In the airline industry, frequent-flyer programs, ticket kiosks, and e-ticketing are all examples of capabilities that are
A. rare.
B. causally ambiguous.
C. socially complex.
D. valuable.

803. Firms with few competitive resources are more likely
A. to not respond to competitive actions.
B. respond quickly to competitive actions.
C. delay responding to competitive actions.
D. respond to strategic actions, but not to tactical actions.

804. Competitors are more likely to respond to competitive actions that are taken by
A. differentiators.
B. larger companies.
C. first movers.
D. market leaders.

805. What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?
A. Strategy formulation
B. Strategy evaluation
C. Strategy implementation
D. Strategic management
E. Strategic leading

806. Which of the following is not a cultural product?
A. Rites
B. Emotions
C. Rituals
D. Sagas
E. Symbols

807. Which individuals are most responsible for the success and failure of an organization?
A. Strategists
B. Financial planners
C. Personnel directors
D. Stakeholders
E. Human resource managers

808. Which of the following is an element of a firm’s remote external environment?
A. Competition
B. Political agencies
C. Suppliers
D. Trade union

809. Long-term objectives should be all of the following except:
A. measurable.
B. continually changing.
C. reasonable.
D. challenging.
E. consistent.

810. What are guides to decision making?
A. laws
B. rules
C. policies
D. procedures
E. goals

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