The VRIO Criterion That Determines Whether a Resource or Capability

question 130

Short Answer

The VRIO criterion that determines whether a resource or capability is the source of competitive advantage recognized that the firm must have the _______________ capability to exploit the resources.

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Definitions:

Price Skimming

A pricing strategy involving setting high prices at the launch of a new product to maximize profits from customers willing to pay more, before reducing the price over time.

Consumer Credit

Credit extended by retailers to the ultimate customers for the purchase of products or services.

Business Credit

A measure of a company's ability to obtain goods, services, or funds based on the promise to pay in the future.

Trade Credit

The purchase of goods from suppliers that do not demand payment immediately.