The Resource-Based Model Assumes That If Firms Have Resources That

question 45

True/False

The resource-based model assumes that if firms have resources that are rare or costly to imitate,this is sufficient to form a basis for competitive advantage.

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Definitions:

Purchase Requisition

An official request or document that a company uses to inform the purchasing department of items it needs to order.

Legal Contract

A legally binding agreement between two or more parties that is enforceable by law.

Operations Management System

A framework or methodology designed to plan, control, and improve the processes that produce goods or services.

Elements

Fundamental components or parts that combine to form a whole, often referring to substances that cannot be broken down into simpler forms by chemical means.