INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which approach focuses on identifying and leveraging unique resources and capabilities to gain competitive advantage?
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Resource-based approach
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Situational approach K
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Behavioral approach
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Equity approach
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Explanation:
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: -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.
Detailed explanation-3: -Competitive advantage can be gained from adoption of advance technology, excellent service, low cost production, or selling of unique products.
There is 1 question to complete.