Based on the VRIO Framework, a Resource Can Be Considered

question 23

Multiple Choice

Based on the VRIO framework, a resource can be considered a source of competitive advantage if it:

• A) is shared by most companies in an industry.
• B) is rare, valuable, difficult to imitate, and organized or managed by the company.
• C) is the foundation of a company's strategic plan.
• D) is kept as a trade secret rather than as a patent.
• E) increases the cost of producing the product and, therefore, the price charged to customers.

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Definitions:

Sales

The total amount of revenue generated by the selling of goods or services.

Sales Invoice

A document issued by a seller to a buyer that lists products or services provided and states the sum due for these.

Credit

An accounting entry that increases liabilities or equity or decreases an asset or expense.