In Order for a Firm to Achieve Sustained Competitive Advantage

question 54

True/False

In order for a firm to achieve sustained competitive advantage, a firm must continually adapt to changes in external trends and events and effectively formulate, implement, and evaluate strategies that capitalize upon those factors.

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Definitions:

Money

A medium of exchange in the form of coins and banknotes; used to facilitate the sale, purchase, or trade of goods and services.

Negative Reinforcement

A behavioral principle where the removal of an unfavorable outcome or stimulus increases the likelihood of a behavior being repeated in the future.

Removal

The act of taking away or eliminating something from a particular place or context.

Event

An event or incident, particularly one that is significant.