The Resource-Based View of the Firm

question 22

Multiple Choice

The resource-based view of the firm:

• A) Emphasizes that it is difficult to develop and sustain a competitive advantage based on resources alone
• B) Argues that the industry environment has a stronger influence on firms' ability to implement strategies successfully than does the competitor environment
• C) Calls for firms to focus on their homogeneous capabilities to compete against their rivals
• D) Suggests that vision and mission are closely linked to sustainable competitive advantage

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Definitions:

Customer Service Department

This department is responsible for providing assistance and advice to the customers of a company, handling inquiries, complaints, and support requests.

Capacity Analysis

The procedure of figuring out what level of manufacturing capacity is needed by a company to adjust to its products' changing needs.

Time-Driven Activity-Based Costing

Time-Driven Activity-Based Costing is an accounting method that assigns costs to products and services based on the time employees spend on activities.

Order Fulfillment Department

The division of a company responsible for processing customer orders and ensuring the delivery of products or services.