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RUDIKE [14]
3 years ago
14

According to the resource-based view of the firm, competitive advantages are _________________ for competitors to copy, if they

are based on unique bundles of resources.
Business
1 answer:
saul85 [17]3 years ago
6 0

Answer:

The answer options to this question are as follows:

A. The resources of the company that are mobile

B. The capital raised by the company from its shareholders

C. The expertise acquired by the employees in the company

D. The headquarters owned by the company

The correct answer is C. The expertise acquired by the employees in the company

Explanation:

The resource-based vision of the company is useful in developing strategic for companies with a single business, but  also for diversified companies as it reveals how core competencies embedded in a company can help them exploit new product opportunities and  markets .

A competitive advantage is any characteristic of a company, country or person that differentiates it from others, placing it in a superior relative position to compete. That is, any attribute that makes it more competitive than the others.

The attributes that contribute to having a comparative advantage are innumerable. But we can cite as an example the advantageous access to natural resources (such as high-grade minerals or low-cost energy sources), highly skilled labor, geographic location or high barriers to entry, which can be enhanced if we have a product that is difficult to imitate or we have a great brand.

It has been considered that the main source of competitive advantage is derived from the experience effect which has its origin in the learning effect.

The experience effect causes the experience accumulated by the company to decrease in unit terms the real cost of the total added value of the company. The experience effect constitutes a strong barrier to entry for new competitors. The existence of this entry barrier represents a solid competitive advantage for the company that accumulates more experience effect.

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Explanation:

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What are some of the advantages and disadvantages of a) individuals as innovators, b) firms as innovators, c) universities as in
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Answer:

a. Individuals as innovators

<u>Advantages</u>

1. Individuals have no limits (no hard rules) as to whom they can sell their innovation to.

2. An individual can be able lead a successful career with their innovation is any company

<u>Disadvantages</u>

1. Capital is a major limit for most individuals who may not be able to market their innovations.

2. Lack of Knowledge in Patenting innovation ideas have led to most individuals losing their innovation to others.

b. firms as innovators

<u>Advantages</u>

1. Successful innovation can help a firm improve its processes and increase its revenues.

2. Innovation in a unique product can often lead a firm to monopoly as the product becomes a necessity

<u>Disadvantages</u>

1. Firms have more rivalry such that others can copy the innovation or produce another close substitute which can render all efforts to a loss.

2.It takes so much time for the innovation to be approved in a firm as some structures of authority have to be followed and also depending on the culture of the firm towards innovation.

c. universities as innovators

<u>Advantages</u>

1. Universities are better able to raise capital through the Research Funds granted to them by stakeholders.

2. Innovation increases a University`s reputation and improves it rankings.

<u>Disadvantages</u>

1. High dependence on government agencies for funding by Universities means Innovation successes are easily affected by the fiscus.

2. Universities are not effective at marketing Innovations on their own.

d. government institutions as innovators

<u>Advantages</u>

1. The government can increase revenue by improving processes and cutting costs.

2. Innovation can improve transparency and help improve governance and administration.

<u>Disadvantages</u>

1. Adoption of innovation is usually slow as it has to pass so much bureaucracy.

2. Most personnel prefer working in private institutions hence the personnel to drive innovation in governments may be unavailable or inadequate

e. nonprofit organizations as innovators

<u>Advantages</u>

1. There is so much option for funding of innovations ranging from Individuals, Companies and Government

2. Most innovations are driven by Human Need hence their increased success.

<u>Disadvantages</u>

1. The innovation may not be able to generate the revenue to cover the costs.

2. The organizations are usually lacking personal's to drive innovations as people prefer to be paid more for their work.

Explanation:

Innovation is defined as the creation, development and implementation of a new product, process or service. The aim of  innovation is to  improve efficiency, effectiveness or competitive advantage. Innovation presents advantages and disadvantages to various players as listed above.

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During its most recent fiscal year, Dover, Inc. had total sales of $3,340,000. Contribution margin amounted to $1,570,000 and pr
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