Firms develop a competitive advantage when they are able to develop corporate-level cooperative strategies and manage them in ways that are valuable, rare, imperfectly imitable, and nonsubstitutable.

Question

Quizplus · Accepted Answer

A competitive advantage arises when a firm can create and manage strategies that are valuable, rare, difficult to imitate, and cannot be easily substituted, aligning with the VRIN framework.

Firms Develop a Competitive Advantage When They Are Able to Develop