Business Strategy and Resources Quiz

<p>The capacity to perform internal activities competitively (D)</p> Signup and view all the answers

<p>Increase in customer satisfaction and brand reputation (B)</p> Signup and view all the answers

A company's strategy is considered successful if it leads to increased financial strength and profitability, along with improvements in its competitive standing.

Resources are assets that can be used to achieve a company's strategic goals. Tangible resources are physical assets, while intangible resources are less concrete but equally important.

Capabilities are the company's ability to perform internal activities effectively and efficiently. They are built upon the company's resources.

The VRIN Test is a framework for evaluating the sustainability of a competitive advantage. It asks if a resource is valuable, rare, inimitable, and non-substitutable.

The VRIN test helps determine if a competitive advantage can be sustained, while the V/R test focuses on whether the resource or capability contributes to a competitive advantage.