The I/O Approach to Competitive Advantage Argues That External Factors

question 60

Multiple Choice

The I/O approach to competitive advantage argues that external factors are internal factors in a firm achieving competitive advantage.

• A)less important than
• B)less common than
• C)as important as
• D)more important than
• E)more common than

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Definitions:

Human Capital

Represents the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Consulting Firms

Organizations composed of experts or consultants who provide professional advice or services to other businesses or individuals in various fields.

Virtual Organizations

Businesses that operate primarily or entirely online, utilizing digital tools and networks to manage their work and communicate with stakeholders.

Fentanyl Transdermal

A powerful opioid pain medication administered through a patch on the skin, used for continuous, long-term pain management.