How important is the environment to the performance of airlines in the airline industry? What does this suggest regarding the industrial organization (I/O) model to explain how firms can earn above-average returns? 2. Why is there a lot of imitation in the airlines industry, and how does this affect firm performance? 3. How important is the resource-based model to explain how well firms perform in the airlines industry? 4. How can strategic leaders be successful in an industry like the airlines industry