Chapter 3: The Internal organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Question 1

Global Mind Set

Answer 1

The ability to analyze, understand, and manage an internal organization in ways that are not dependent on the assumptions of a single country, culture, or context.

Question 2

Value

Answer 2

A products performance characteristics and by its attributes for which customers are willing to pay.

Question 3

Tangible Resources

Answer 3

Assets that can be observed and quantified.

Question 4

Intangible Resources

Answer 4

Assets that are rooted deeply in the firm’s history, accumulate over time, and are relatively difficult for competitors to analyze and imitate.

Question 5

Valuable Capabilities

Answer 5

Allow the firm to exploit opportunities or neutralize threats in its external environment.

Question 6

Rare Capabilities

Answer 6

Capabilities that few, if any, competitors possess.

Question 7

Costly-to-imitate Capabilities

Answer 7

Capabilities that other firms cannot easily develop.

Question 8

Nonsubstitutable Capabilities

Answer 8

Capabilities that do not have strategic equivalents.