Explain whether the following statement is true or false

Business Dec 24, 2020

Explain whether the following statement is true or false.

To gain a competitive advantage, a firm must have the organizational ability to exploit their resources.

Expert Solution

This statement is false

The firms are initially required to economize all of its resources for offering the optimal amounts of production. Merely, resource usage does not imply that the firm would attain a competitive edge over production. The resource-based viewpoint generally suggests that the quality of the resources should also be subtle so that the least resources could offer the maximum output levels. Hence, the competitive edge of the firm would be maintained in this way.

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