Exam 3: Internal Analysis: Strengths, Weaknesses and Competitive Advantage

TumbleDry Inc., a washing machine company, has been able to make minimal profits in the market. However, TumbleDry has not been able to come up with any product innovations that are unique and hard to imitate. This scenario best exemplifies __________.

Which of the following statements best describes a firm's resources?

Erik, the CEO of Indigo Inc. wants to improve the efficiency and effectiveness of his company. In order to do this, he lists out the assets and knowledge Indigo has acquired over the years. Erik also analyzes the company's processes and its overall culture. The factor of production that Erik is studying can be best categorized as ________.

Michelle, the CEO of airline compamyNariko Jets, stated that she owes the credit of her professional success to the time spent as a volunteer at a homeless shelter and her passion for artwork. Nariko Jets, according to Michelle, was the result of her life lessons at the homeless shelter and her paintings which provided her the inspiration to create an airlines that would make travel easier and comfortable. Her competitors have always envied her success. Which of the following factors of inimitability is best reflected in this scenario?

A resource creates ___ if its contributions allow a company to produce a product or service that is of worth to end users.