Question 21 (2 points) When a needed resource has low relevance to existing internal resources, but has a high level of tradability, a firm can BEST acquire this resource by: Acquiring a firm who has access to the resource Entering a contract or license agreement for the resource Innovating and developing the resource internally Developing a strategic alliance with a partner who has access to the resource Question 22 (2 points) ABC Company has made a strategic decision to implement a differentiation strategy. Which of the following set of resource and/or organizational requirements would be MOST consistent with this decision? Frequent reports and specialization of jobs and functions Creativity and tight cost control Marketing abilities and research capability Incentives linked to quantitative target accounts and cross-functional coordination Access to capital and process engineering skills Question 23 (2 points) The following are the right reasons to MAKE rather than BUY, EXCEPT: Coordination problems that call for timing and precision of critical parts. O Price fluctuation risk associated with buying on open market. Critical information leakage. Transaction costs associated with the hold-up problem Question 24 (2 points) The BCG growth matrix organizes firms using cashflow patterns into the following categories EXCEPT: Star Cash cow Dog Bear Question 25 (2 points) Programmers become more efficient in programming as they write more programs and gain experience. This efficiency improvement represents Economies of scale Economies of scope Economies of learning All of the above