To Be a Source of Competitive Advantage,a Resource Must

question 19

Multiple Choice

To be a source of competitive advantage,a resource must:

• A)provide superior benefits to customers.
• B)give the firm a cost advantage.
• C)be rare.
• D)be transparent.
• E)a and c above

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Definitions:

Time Compression

Strategies or techniques used to reduce the duration of processes or activities, aiming to increase efficiency and reduce costs in operations and supply chain.

Time-Compression

Strategies or technologies that reduce the time between the initiation and completion of a process or project.

Policy Decisions

High-level choices made by organizations or governments that set directions, establish regulations, or guide the implementation of strategies.

Monte Carlo Simulation

A statistical technique that uses random sampling and repeated trials to calculate outcomes of uncertain variables.