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In today’s global economy, some resources that were traditionally critical to firms’ efforts to produce, sell, and distribute goods are now less likely to be a source of competitive advantage

The resource-based model argues that:

The length of time a firm can expect to create value by using its core competencies is a function of how quickly competitors can successfully imitate a good, service, or process

“Motivating, empowering, and retaining employees” is an example of a capability that resides within the human resources functional area

Interpersonal relationships, trust, friendships among managers and between managers and employees, and a firm’s reputation with suppliers and customers are all examples of complex social phenomena that make capabilities easy to imitate

Coca-Cola and PepsiCo have been accused of contributing to the obesity problem in the United States.  This accusation comes from the __________segment of the general environment.

Capabilities may be costly to imitate if firms have unique and valuable organizational cultures, are causally ambiguous, or are socially complex

Core competencies are capabilities that serve as a source of competitive advantage for a firm over its rivals

An attractive industry is one that is characterized by high entry barriers, suppliers and buyers with strong bargaining power, low threats from substitute products, or low rivalry among firms

A firm has achieved __________ when it successfully formulates and implements a value-creating strategy.