The Industrial Organization (I/O) Approach to Competitive Advantage Advocates That

question 8

Multiple Choice

The Industrial Organization (I/O) approach to competitive advantage advocates that external factors are ________ internal factors in a firm achieving competitive advantage.

• A) less important than
• B) equally important as
• C) more important than
• D) more common than
• E) less common than

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Definitions:

Strategic Plan

A long-term vision for a company, outlining goals, objectives, and tactics to achieve competitive advantage and meet stakeholders' expectations.

Planning Committee

A group of individuals assembled to plan, organize, and oversee specific projects, events, or initiatives, ensuring objectives are met efficiently.

Supplier Selection

The process of identifying, evaluating, and contracting with vendors or suppliers to acquire goods and services for business operations.

Financial Health

A measure of the financial stability and well-being of an entity, often evaluated through metrics like liquidity, solvency, and profitability.