Before Establishing and Implementing Strategy, a Resources View Would Ensure

question 104

Multiple Choice

Before establishing and implementing strategy, a resources view would ensure that which of the following resources is/are available?

• A) financial
• B) physical
• C) human
• D) technological
• E) all of the above

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Definitions:

Diminishing Marginal Returns

A principle stating that if one factor of production is increased while others remain constant, the overall returns will gradually decrease after a certain point.

Long-Run Average Cost Curves

A graphical representation showing the average cost per unit of output over a long period, where all inputs, including capital, are variable.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, leading to a reduction in average costs per unit as output increases.

Diseconomies of Scale

The situation in which a business grows so large that the costs per unit increase, as opposed to economies of scale where costs per unit decrease with the increase in output.