Examlex
Explain the resource-based view and its relation to strategic management.
Price Leadership
A situation where one dominant firm in an industry sets the price of goods or services, and other firms follow suit.
OPEC
The Organization of the Petroleum Exporting Countries, an international cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market.
Oil Cartel
An association of oil-producing countries that agree to coordinate their oil production to control the price of oil on the global market.
Norway
A country in Northern Europe known for its vast coastlines, fjords, and extensive welfare system.
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