Which of the Following Is the Implication for Action Based

question 14

Multiple Choice

Which of the following is the implication for action based on the information in this chapter?

• A) Managers need to build firm strengths based on the VRIO framework
• B) Relentless imitation or benchmarking, while important, is not likely to be a successful strategy
• C) Managers need to build up resources and capabilities for future competition
• D) All of these answers

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Definitions:

Common Law

A legal system based on custom, court rulings, and past legal precedents rather than on written laws.

UCC

The Uniform Commercial Code consists of legal standards and rules that regulate commercial or business agreements and transactions.

Govern

The act of conducting policy, actions, and affairs of a state, organization, or people, often through established laws and authorities.

Liquidated Damages

A predetermined amount of money that parties to a contract agree upon as compensation in case of a breach of the contract.