A Successful Strategy Must Be Consistent with Both a Firm's

question 177

True/False

A successful strategy must be consistent with both a firm's resources and the competitive environment.

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Definitions:

Externalities

Effects of a transaction or activity on third parties who are not directly involved, which can be either beneficial (positive externalities) or harmful (negative externalities).

Property Rights

Legal rights defining the ownership and use of resources including land, intellectual property, and personal assets.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

National Defense

The governmental provision of military forces and facilities intended to secure the nation against all potential enemies.