Economics · Economy

Which of the following correct describes the Resource-Based View (RBV) approach to strategic management?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Internal resources are more important for a firm than external forces for achieving competitive advantage✓
2A process whereby a firm determines the costs associated with organizational activities
3External factors are more important than internal factors for achieving competitive advantage
4Effective integration of both external and internal factors is the key to competitive advantage

Correct answer

Internal resources are more important for a firm than external forces for achieving competitive advantage

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