Summit Technology Inc. manufactures soundbars for $100 per unit, and the maximum price customers are willing to pay is $475 per unit. Sound Gold Inc. is a competitor of Summit Technology that produces soundbars for $150 per unit, and customers are willing to pay a maximum price of $500 per unit. What does this imply?

Which is a model that links strategy analysis, strategy formulation, and strategy implementation, thereby helping managers plan and implement a good strategy?

NovaNote’s competency in designing and manufacturing efficient, long-lasting batteries has made its tablets the fastest-growing brand of computers in the market. This competency, along with highly responsive tech support, has enabled NovaNote to increase its customer base and strengthen customer loyalty. Thus, NovaNote’s competency in designing and manufacturing batteries will be considered a(n)________ resource in the VRIO framework.

Which of the following statements is true of business strategy?

Superior performance allows a company to benefit society by implementing which of the following strategies?

A(n)________ is best described as the strategic option that top managers decide most closely matches the current reality and which is then executed.

Great Sound Inc. is a publicly traded company that specializes in manufacturing consumer electronics. Which of the following best exemplifies the implementation of a shared value creation framework at Great Sound Inc.?

Underperformance relative to other firms in the same industry or the industry average results in a(n)________ for a firm.

Southwest Airlines (SWA) has enjoyed a sustained competitive advantage, allowing it to outperform its competitors over several decades. Continental and Delta attempted to copy SWA with their offerings of Continental Lite and Song airlines, respectively. Neither Continental nor Delta, however, was able to successfully imitate the resource bundles and firm capabilities that make SWA unique. Which of the following is this case an example of?

Under the________ framework, producer surplus is important in the quest for competitive advantage because this is the profit that a firm captures when producing and selling a good or service.