A Resource-Based Strategy

question 29

Multiple Choice

A resource-based strategy

• A)focuses on exploiting a company's best-executed operating strategy.
• B)is based upon efficient performance of the company's primary value chain activities.
• C)concentrates on minimizing the costs associated with the design of a product or service.
• D)attempts to exploit resources in a manner that offers value to customers in ways rivals are unable to match.
• E)focuses on working with forward channel allies to develop capabilities to outmatch the capabilities of rivals.

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Definitions:

Trade-Off

A situation that involves losing one quality, quantity, or property of a set or design in return for gaining another.

Inflation

The speed at which the overall price level for goods and services increases, thereby diminishing the buying power.

Productive Capacity

The maximum output that an economy can produce without increasing inflation, given its current level of resources.

Equity

Fairness or justice in the way people are treated or the distribution of resources, often distinguished from equality by focusing on needs and outcomes.