Based on the VRIO Framework, a Resource Can Be Considered

question 65

Multiple Choice

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

• A) shared by most companies in an industry.
• B) rare, valuable, difficult to imitate and organized or managed by the company.
• C) the foundation of a company's strategy.
• D) 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:

Labor relations

The field that studies and manages the relationships between employers and their employees, particularly when employees are represented by a union.

Economic conditions

The state of an economy at a given time, including factors like inflation, employment rates, and GDP growth that influence business and labor markets.

Susceptible

Being likely to be influenced or harmed by a particular thing or condition.

Collective bargaining

The process where representatives of workers and employers negotiate over wages, working conditions, and other employment terms.