One Implication of the Resource-Based Perspective Is That

question 67

Multiple Choice

One implication of the resource-based perspective is that:

• A)Firms tend to adopt similar or close strategies
• B)Firms focus on being different from competitors in ways which matter to their competitiveness and to customers
• C)Firms focus on building a stronger portfolio of capabilities than the average portfolio of their rivals
• D)Firms focus on understanding their resources and capabilities in regards to their weaknesses

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Definitions:

Direct Materials Cost Variance

The difference between the budgeted cost of materials and the actual cost incurred for materials used in production.

Standard Materials Cost

The budgeted or estimated cost of raw materials required for production, used for cost control and variance analysis.

Material Used

The raw materials that have been consumed in the production process to create goods.

Total Labor Cost Variance

This refers to the difference between the actual labor costs incurred and the standard labor costs for the actual production levels.