Keith Is Setting Up a New Bar in His Locality

question 52

Multiple Choice

Keith is setting up a new bar in his locality.He knows that there are only a handful of bars in the area where he wishes to conduct business.He locates his bar at one of the four corners at a busy intersection.The other three corners are occupied by a clothing outlet, a restaurant, and a library, respectively.Keith knows that his bar's location gives him a competitive advantage.In the context of the components of resource-based analysis, Keith is able to achieve competitive advantage because his product or service is ________.

• A)rare
• B)nonsubstitutable
• C)durable
• D)valuable

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Definitions:

Assignable Cause

An identifiable factor that causes a change or variation in a process or system, distinguishable from random variation.

Variation

The degree to which data points in a dataset differ from each other and from the mean, indicating the dispersion within the dataset.

Output

The result or product generated by a process or system.

Random Cause

An unpredictable influence that affects the outcome of a process or experiment.