Question: 1. Define and explain what resources, competencies, and capabilities are, and how they can be used to create value (not the value chain) and competitive

1. Define and explain what resources, competencies, and capabilities are, and how they can be used to create value (not the value chain) and competitive advantage. Be sure to consider capabilities and how they affect resources and competencies. 2. Define and explain how the Five Forces Model helps to identify the competitive intensity that impacts recruiting and retaining customers in a specific service area 3. Define, compare and contrast Strategic Planning, Strategic Thinking and how they impact and shape Strategy and Strategic Management 4. Define Mission, Vision, and Values and explain how they are the foundation for strategy development and implementation

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