GlenOak Corp. is conducting an analysis to determine which strategies would best enable the firm to achieve above$-$average returns. How might the firm best make use of the different models available to select strategies and determine how to implement them?

The firm should first focus on internal factors, using a resource$-$based model to acquire necessary assets and skills.

The firm should first focus on external factors, using an I$/$O model to identify the firm's competitive advantage.

If the firm should write a vision and mission, and then use the I$/$O or resource$-$based model that best aligns with those statements.

The firm should use both the I$/$O model and the resource$-$based model to focus on factors outside and inside the firm at the same time.