The I/O Approach to Competitive Advantage Advocates That Internal Factors

question 93

True/False

The I/O approach to competitive advantage advocates that internal factors are more important than external factors in a firm achieving competitive advantage.

---

Definitions:

Innovations

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Clusters

Geographic concentrations of interconnected companies, specialized suppliers, and service providers in a particular field that are thought to increase competitiveness and innovation.

Old Navy

A popular clothing and accessories retailer known for offering fashionable and affordable apparel for the entire family.

Rent

A periodic payment made to an owner or landlord for the use of a property, building, or piece of land.