Asked by Mariela Nieto on May 25, 2024
Verified
According to the resource-based view,an organization's sustained competitive advantage must meet four criteria.List these four criteria.
Resource-Based View
A strategic management perspective that considers a firm's resources and capabilities as the primary sources of its competitive advantage.
Sustained Competitive Advantage
The ability of a firm to maintain a unique value proposition in the market that cannot be easily replicated by competitors, thus ensuring long-term success.
- Identify the importance of competitive advantage and the methods by which it is attained.
Verified Answer
SR
Stephanie RicciMay 27, 2024
Final Answer :
∙ They are valuable to the firm’s strategy (they help generate value/reduce cost).
∙ They are rare (competitors don’t have them).
∙ They are inimitable (they cannot easily be copied by competitors).
∙ They can be organized by the firm (the firm can exploit the resources)
∙ They are rare (competitors don’t have them).
∙ They are inimitable (they cannot easily be copied by competitors).
∙ They can be organized by the firm (the firm can exploit the resources)
Learning Objectives
- Identify the importance of competitive advantage and the methods by which it is attained.
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