What is value? Why is it critical for the firm to create value? How does it do so?
Answer to relevant QuestionsWhat are the differences between tangible and intangible resources? Why is it important for decision makers to understand these differences? Are tangible resources more valuable for creating capabilities than are intangible ...How do firms identify internal strengths and weaknesses? Why is it vital that managers have a clear understanding of their firm’s strengths and weaknesses? What is the relationship between a firm’s customers and its business-level strategy in terms of who, what, and how? Why is this relationship important? Who are competitors? How are competitive rivalry, competitive behavior, and competitive dynamics defined in the chapter? What impact will market commonality have on competitive responses in the auto industry?
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