The Resource-Based View of the Firm

question 31

Multiple Choice

The resource-based view of the firm:

• A) emphasizes that it is difficult to develop and sustain a competitive advantage based on resources alone.
• B) argues that the industry environment has a stronger influence on firms' ability to implement strategies successfully than does the competitive environment.
• C) calls for firms to focus on their homogeneous capabilities to compete against their rivals.
• D) suggests that vision and mission are marketing messages not tied to strategic plans.

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Definitions:

Wider Society

The broader community or populace, encompassing various demographics and social groups beyond one's immediate environment.

Moral Positions

Refer to the stances or viewpoints individuals hold concerning what is right and wrong, often influenced by their personal values, culture, and societal norms.

Overcoming Inequality

The efforts and processes involved in reducing and eventually eliminating discrepancies in wealth, opportunity, and rights among different groups in society.

Well-Ordered Society

A society that is structured and organized in such a way that it promotes the welfare and justice for all its members.