A Firm's Resources and Capabilities

question 32

Multiple Choice

A firm's resources and capabilities:

• A)are inherited, not created
• B)are always core competencies
• C)may be a source of incompetence
• D)are all a firm needs to focus on

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Definitions:

TV Commercials

Short advertisements broadcast on television, typically showcasing products, services, or brands to a wide audience.

Specialize

To concentrate on a specific area of expertise, activity, or field of study to gain a higher efficiency or proficiency.

Maximize

The process of increasing a certain outcome or variable to its highest possible level, given a set of constraints.

Total Production

The total output of goods or services produced by an individual firm or an entire industry over a specific period.