1.  For a resource or capability to be competitively superior it;Group of answer choicesshould be easy to copycan be something that rivals also have in plentywill be common and widely availableshould have good substitutes availableshould be competitively valuable

A company's competitive strategy shouldMultiple Choicebe supportive with its objective to become at least an average performer within its industry.be well attuned to doing an outstanding job of satisfying the needs and expectations of niche buyers.ensure it is designed to concentrate on a small range of products so it can react quickly to competitive moves.be well matched to its resources and capabilities in order to incorporate standard attributes into its product offering.be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.

A sustainable competitive advantage is gained when a companyMultiple Choicehas sufficient resources to expedite its strategy.has durable competitive assets that are central to its strategy and superior to those of rival firms.realizes its inherent weaknesses are transformable to advantages.can stand out relative to rivals because of resource utilization.has resources in well-populated geographical locations.

A resource is said to have a comparative advantage if: Group of answer choicesit is better suited to the production of one good than to the production of an alternative good.it is equally suited to the production of all goods.its suitability to the production of one good changes as it produces more of that good.its suitability to the production of one good does not change as it produces more of that good.

A __________ competitive advantage is not easily copied by competitors and so tends to be maintained over the long run.Multiple Choicepricedportfoliosegmentedsustainablepromotional

In making an overall assessment of a company’s competitive strength, the answer to which questions are of particular interest?Multiple Choice(1) Is the company’s resource strength sufficient to allow it to earn bigger profits than rivals, and (2) Are market opportunities unique, rare, long-lasting, and not able to be copied by rivals?(1) Is the company’s resource strength sufficient to allow it to earn bigger profits than rivals, and (2) Are market opportunities unique, rare, long-lasting, and not able to be copied by rivals?(1) How does the company rank relative to competitors on each important market success factor, and (2) Is the company’s resource strength sufficient to allow it to earn bigger profits than rivals?(1) How does the company rank relative to the competitors on each important market success factor, and (2) Does the company have a net competitive advantage or disadvantage versus major competitors?(1) Does the company have a gross competitive advantage or disadvantage versus major competitors, and (2) Does the company do a first-rate job of managing its value chain activities relative to its competitors?