BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Resource-based theory of competitive advantage argues that innovations achieve sustainable competitive advantage by accumulating and using resources to serve consumer interests in ways that are hard to substitute for or imitate. It states that successful innovations are determined not just by the innovation.

Detailed explanation-2: -Which statement regarding competitive advantage is true. The answer is: if several competitors prosue similar differentiation tactics, they may all be received as equals in the minds of the consumer.

Detailed explanation-3: -Competitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the productive entity to generate more sales or superior margins compared to its market rivals.

Detailed explanation-4: -Ans: The Resource Based View (RBV) approach to competitive advantage contends that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage.