Competitive advantage is achieved when a firm
A)achieves higher profit margins than its rivals.
B)matches its strongest resources & capabilities to the key success factors of the industry.
C)achieves the highest asset turnover ratio in the industry.
D)b and c.

Question

Quizplus · Accepted Answer

Competitive advantage is achieved when a firm is able to maximize its strongest resources and capabilities to match the key success factors of the industry it operates in. This allows the firm to differentiate itself from its rivals and ultimately achieve higher profit margins. The asset turnover ratio, while important, is not enough to achieve a sustainable competitive advantage.

Competitive Advantage Is Achieved When a Firm