Firms Can Develop Four Main Approaches to Integration Including All

question 63

Multiple Choice

Firms can develop four main approaches to integration including all except one of the following

• A) Institutionalize the integration of external and internal resources
• B) Internalize external resources and develop synergies with internal resources
• C) Increase performance by exploiting distinct and separate external and internal resources
• D) Identify critical external resources

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Definitions:

Knowledge-based Economy

An economic system where growth is dependent on the quantity, quality, and accessibility of information, rather than the means of production.

Expert Power

The influence a person has over others due to their expertise, skills, or knowledge.

Industrial

Related to the production and manufacturing of goods in an organized and systematic manner for economic purposes.

Reward Power

The capacity to influence others by controlling the allocation of rewards valued by them, effectively motivating or encouraging specific behaviors.