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:

Decision-making Model

A systematic process or framework used to make choices among various alternatives, often involving steps such as identifying the problem, generating options, and selecting the best strategy.

Nonprogrammed Decisions

Decisions that are unique, require special handling, and are typically made in unpredictable or uncertain environments.

Proven Solutions

Strategies or methods that have been tested and shown to achieve desired results effectively.

Define The Problem

The initial step in the problem-solving process, involving the identification and clear articulation of an issue or obstacle that needs to be addressed.