When a resource or capability is valuable
and rare, a firm may gain a
a. sustainable competitive advantage.
b. competitive parity.
c. cost advantage.
d. temporary competitive advantage.
Which of the following is critical for a
firm adopting a long-term cost-reduction
strategy?
a. The firm must also differentiate its
product or service.
b. The strategy reduces costs by at least
10%.
c. The strategy is focused on reducing
internal production costs.
d. The methods of achieving cost reductions are difficult to imitate.
