In Order for a Firm to Achieve Sustained Competitive Advantage

question 54

True/False

In order for a firm to achieve sustained competitive advantage, a firm must continually adapt to changes in external trends and events and effectively formulate, implement, and evaluate strategies that capitalize upon those factors.

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Definitions:

Reinforcement Schedule

The pattern or timing in which an organism receives a reward or punishment, influencing the speed and strength of behavior learning.

Fixed-interval

A type of schedule in operant conditioning where rewards or punishments (reinforcements) are presented at fixed time periods, provided that the appropriate response is made.

Variable-interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed, in behavioral psychology.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited only by the second stimulus is eventually elicited by the first stimulus alone.