The ________ approach to strategic management argues that the development of unique capabilities is the major determinant of competitive advantage.
A) resource-based
B) industry forces
C) strategic management diamond
D) stakeholder

Question

Quizplus · Accepted Answer

The resource-based approach to strategic management emphasizes that a firm's unique resources and capabilities are the key determinants of competitive advantage. This approach argues that resources that are valuable, rare, inimitable, and non-substitutable (VRIN) provide a firm with a sustainable competitive advantage that is difficult for rivals to replicate.

The ________ Approach to Strategic Management Argues That the Development