Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following best describes a firm's competitive advantage?
Which of the following best describes a firm's competitive advantage?
- A firm's implementation of strategies that are difficult for competitors to duplicate (correct)
- A firm's ability to find strategies that are cheaper to imitate than its competitors
- A firm's strategy that is permanent and cannot be duplicated
- A firm's ability to imitate its competitors' strategies
What is the key factor in determining if a firm's strategy has resulted in a useful competitive advantage?
What is the key factor in determining if a firm's strategy has resulted in a useful competitive advantage?
- The firm's confidence in its strategy
- The speed with which competitors find skills to imitate the firm's strategy (correct)
- The time it takes for the advantage to last
- The firm's ability to cease or fail competitors' efforts to duplicate its strategy
What are above-average returns in terms of investment?
What are above-average returns in terms of investment?
- Returns that are higher than expected (correct)
- Returns that are lower than expected
- Returns that are similar to other investments
- Returns that are uncertain
How does effectively managing risks impact investors' uncertainty?
How does effectively managing risks impact investors' uncertainty?
Signup and view all the answers
How are returns often measured?
How are returns often measured?
Signup and view all the answers
