Asked by william huang on Sep 24, 2024
Verified
For a resource to be able to generate sustained competitive advantage over rivals,it must be
A) Valuable
B) Rare
C) Difficult to imitate or substitute away from
D) All of the above
Sustained Competitive Advantage
An enduring edge over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.
Difficult To Imitate
Referring to a unique characteristic or attribute of a product or service that competitors find hard to replicate.
- Appreciate the importance of one-of-a-kind, significant, and hard-to-mimic resources in sustaining a competitive dominance.
Verified Answer
MC
Mikaela Camacho Cardoso5 days ago
Final Answer :
D
Explanation :
For a resource to generate sustained competitive advantage over rivals, it must possess all three characteristics:
A) It must be valuable, meaning it must be able to enable the firm to exploit opportunities or reduce threats.
B) It must be rare, meaning it must be unique or scarce compared to rival firms.
C) It must be difficult to imitate or substitute away from, meaning rivals cannot easily replicate or replace the resource. Therefore, the best choice is D, which includes all three factors.
A) It must be valuable, meaning it must be able to enable the firm to exploit opportunities or reduce threats.
B) It must be rare, meaning it must be unique or scarce compared to rival firms.
C) It must be difficult to imitate or substitute away from, meaning rivals cannot easily replicate or replace the resource. Therefore, the best choice is D, which includes all three factors.
Learning Objectives
- Appreciate the importance of one-of-a-kind, significant, and hard-to-mimic resources in sustaining a competitive dominance.
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