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:

Economic Competition

The rivalry among companies in the marketplace for the consumer's preference in order to maximize sales, profits, and market share.

Vested Interests

Parties with a strong existing interest in maintaining or influencing a particular condition or set of policies for personal or economic gain.

Patriarchy

In this system, males are the primary holders of power, leading in government, moral leadership, enjoying societal benefits, and owning property.

Bureaucratic Organization

A form of organization structured hierarchically, governed by formal rules and regulations, and characterized by specialized roles and impartiality of its members.