1 The VRIO framework evaluates a firm's competencies by examining the variables of value, rareness, imitability, and a. organization. b. objective. c. operating cash flow. d. outsourcing. e. ownership. 2 According to the resource-based view of the firm, which of the following is one of the two characteristics of resources and capabilities that are important in sustaining competitive advantage? a. timeliness. b. certainty. c. translucence. d. durability. e. permeability. 3 The particular strengths and weaknesses that will help determine the future of the company are called a. SWOT. b. competitive forces. c. internal strategic factors. d. quality accounting. e. factor analysis. 7 The structure of a corporation is often defined in terms of communication, authority, and work flow. Which of the following describes a typical functional structure? a. Work is divided into subunits on the basis of areas like manufacturing and marketing. b. Most appropriate for large corporations with many product lines in several related industries, with employees acting as specialists attempting to gain synergy among divisional activities. C Most annronriate for small entrenreneur