The industrial organization $($I$/$O$)$ model argues that the:

a$)$ key to earning above$-$average returns is strategic flexibility.

b$)$ firm's internal resources and capabilities represent the foundation for development of a value$-$creating strategy.

c$)$ internal structure of the organization must match the industry in which it competes for it to earn aboveaverage returns on investment.

$$ d$)$ key factor in success is choosing the correct industry in which to compete.