Competitive advantage is a key term when discussing strategy formulations. However, what does the term actually mean? Select one: O a. When firms have higher profit margins their competitors. O b. When firms have certain attributes allowing them to outperform their competitors O c. When firms have a tendency of failing in the market, but continuously strive to become better. O d. When firkts have a larger market share than their competitors. Which of the following capabilities is the EASIEST to imitate? Select one a. A causally ambiguous interaction between human resource practice and production efficienc O b. A new fleet of airplanes leased by an airline O c. An established brand identity developed over many years O d. A firm's reputation for superior customer service Why might an analyst complete a five forces analysis? Select one: O a. To increase bargaining power O b. To understand the profit potential in an industry O c. To understand an individual firm's competitive advantage O d. To dominate the market