The I/O approach to competitive advantage advocates that external factors are ________ internal factors in a firm achieving competitive advantage.
A) less important than
B) equally important as
C) more important than
D) more common than
E) less common than

Question

Quizplus · Accepted Answer

The I/O (industrial organization) approach to competitive advantage emphasizes that the external factors, such as industry structure and competition, have a greater impact and importance in achieving competitive advantage than internal factors. This is because the external factors determine the potential profitability and attractiveness of an industry, and firms that can effectively navigate and leverage these external factors can achieve sustained competitive advantage.

The I/O Approach to Competitive Advantage Advocates That External Factors