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| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1904 |
Essay's paper body
While it may not help the firm outperform its competitors, it can still be labeled a
strength. One good way to think about valuable resources is to ask how they help the company.
Common competitive foundations (a.k.a. the generic building blocks) for firms are efficiency,
quality, customer responsiveness, and innovation...
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If a resource helps bring about any one of
these four things then it is valuable.
Efficiency is simply the amount of output for any unit of input, and is probably the most obvious
way a firm can obtain an advantage. If a firm is a more efficient producer of goods or services
than its competitors then it has an advantage...
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