The Differences in Internal Resources Among Companies in the Same

question 28

Multiple Choice

The differences in internal resources among companies in the same industry:

• A) Can become relative strengths or weaknesses depending on the strategy a firm chooses
• B) Almost always result in competitive advantages based on relative strengths or weaknesses
• C) Arise from benchmarking
• D) Are easily observed and relative strengths are easily imitated

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Definitions:

Wages And Salaries

Compensation received by employees for their labor or services, typically paid on an hourly or annual basis.

Corporate Profits

The surplus income of a corporation after all expenses, including salaries and taxes, have been deducted.

Income Share

The proportion of total income earned by a specific group, often used in discussions of income inequality.

Normal Profit

The minimum level of profit necessary for a company to remain competitive in the market, essentially covering opportunity costs.