To Help a Firm Achieve a Competitive Advantage, Each Distinct

question 96

Multiple Choice

To help a firm achieve a competitive advantage, each distinct activity performed in the value chain needs to

• A) contribute to the firm's strategic position as either low-cost leader or differentiator.
• B) reduce the immobility and the heterogeneity of the firm's resources.
• C) create a static fit between the company's internal resources and the external environment.
• D) reduce the causal ambiguity and the social complexity of the firm's source of success.

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Definitions:

Complements

Goods or services that are often used together, where the use or consumption of one enhances the use or consumption of the other.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount actually paid.

Early Freeze

An event where temperatures drop to freezing levels earlier in the season than is typically expected.

Lemon Crop

The production output of lemons within a particular period.