A Sustainable Competitive Advantage Is Gained

question 20

Multiple Choice

A sustainable competitive advantage is gained:

• A) when a company has durable competitive assets that are central to its strategy and superior to those of rival firms.
• B) when a company has sufficient resources to expedite its strategy.
• C) when a company realizes its inherent weaknesses are transformable to advantages.
• D) when a company can stand out relative to rivals because of resource utilization.
• E) when a company has resources in well-populated geographical locations

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Definitions:

Tacit Information

Knowledge that is understood or learned through experience rather than being explicitly mentioned or taught.

Explicit Information

Clear and direct information that is fully articulated and expressed without the need for inference or interpretation.

Tacit Knowledge

The cumulative store of subjective or experiential learning, which is highly personal and hard to formalize.

Explicit Knowledge

Knowledge that is easily articulated, recorded, or shared, such as facts, instructions, or manuals.