1. Which of the following best describes when a firm has a sustained competitive advantage? a. Sustained competitive advantage exists when a firm is profitable. b.Sustained competitive advantage exists when a firm is implementing value creating strategies not being implemented by current competitors. c.Sustained competitive advantage exists when a firm implementing strategies that cannot be imitated. d.Sustained competitive advantage exists when a firm is implementing value creating strategies.
2. If it is assumed that firms have all the same resources, which of the following is correct? a. Firms are heterogeneous as it relates to firm resources. b. They would compete in different ways. c. There would be no first mover advantage d. Resources would create advantages for firms.