There Are Four Conditions That Must Be Met If a Firm's

question 36

True/False

There are four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.

Identify the substitution and output effects and their implications for firm decisions.

Understand the derived demand for labor and other resources.

Grasp the impact of technological and external factors on the demand and supply of resources.

Evaluate the impacts of resource productivity changes on firm output.

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Definitions:

Multidomestic Firm

A company that operates in multiple countries, tailoring strategies, products, and operations to each local environment.

Home-Country National

An employee from the same country as the company's headquarters, working at its domestic or international offices.

Mid-Sized Firm

A business that occupies a middle ground in terms of market share or workforce, usually larger than small enterprises but smaller than large corporations.

International Corporation

A domestic firm that uses its existing capabilities to move into overseas markets.