An Organizational Weakness That Is of High Value to Stakeholders

question 24

True/False

An organizational weakness that is of high value to stakeholders, possessed by competitors, easily corrected, and such that competitors can sustain their advantage presents a competitive disadvantage.

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Definitions:

Rational Individuals

The concept that individuals make decisions based on the maximization of their utility or benefit, taking into consideration all available information and factors.

Preferences

The individual tastes and choices made by consumers in regard to different goods and services.

Macroeconomics

The part of economics concerned with the performance and behavior of the economy as a whole. Focuses on economic growth, the business cycle, interest rates, inflation, and the behavior of major economic aggregates such as the household, business, and government sectors.

Microeconomics

The part of economics concerned with (1) decision making by individual units such as a household, a firm, or an industry and (2) individual markets, specific goods and services, and product and resource prices.