Chapter One Introduces Two Different Models That Can Help Companies

question 41

Multiple Choice

Chapter one introduces two different models that can help companies select and implement the most effective strategy. Which of these models suggests that managers should determine what the firm's resources allow it to do better than the competition?

• A) The industrial organization (I/O) model of the firm
• B) The competitive dynamics (CD) model
• C) The resource-based view of the firm (RBV) model
• D) The five forces model of competition (5F)

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Definitions:

Historical Demand

Past data showing the quantities of a product that were purchased over a specific period.

Gulab Jamun

A popular South Asian sweet made from milk solids kneaded into a dough, deep-fried, and soaked in a sugary syrup.

Commercial Road

A roadway designed and used primarily for the transportation of goods and services, facilitating trade and commerce.

Systematic Component

An element or part of a system that contributes to its orderly and efficient operation.