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.

Although an organization’s good reputation is a valuable resource that takes years of superior marketplace competence to achieve, it is not a good basis for building a competitive advantage because it can be destroyed almost instantly by bad publicity

Understanding how to leverage the firm’s unique bundle of resources and capabilities is a key outcome decision makers seek when analyzing the internal organization

In order to gain information about its competitor, EBD Corp., Alpha Company obtained copies of EBD’s annual reports for the last five years. This action is unethical, and possibly illegal

Creating value for customers is the source of above-average returns for a firm

Methods of waste reduction and options to use renewable energy are aspects of the technological environment segment that firms should monitor

Analyzing the internal environment enables a firm to determine what it CAN DO by identifying resources, capabilities, and core competencies in the internal organization

The best way to understand the relationship between resources, capabilities, and core competencies is to recognize that resources are the source of capabilities. Some capabilities lead to the development of core competencies and these, in turn, may lead to competitive advantages

Any core competency has the potential to lose its value-creating ability