Organizational culture is:

not easily imitable.

typically fragile in the face of changes in the external environment.

so difficult to analyze that most firms should choose to ignore it.

amorphous and changeable.

Economic profit refers to

profit of a firm in recession conditions

the return exceeding investors' profit from investment of similar risk

the profit rate that economists predict for an industry

profit above the industry average

The PRQ chain of retail stores has achieved a high level of efficiency in its inventory control by collecting data at the point of purchase. This is an example of a capability in which specific functional area?

Management information systems

Distribution

Management

Research and development

When selecting a business-level strategy, the firm must determine all of the following EXCEPT:

why these customers' needs should be satisfied

what the customers' needs are

who the customer is

how the customers' needs will be satisfied

Compared to tangible resources, intangible resources are __________ and __________.

less visible; less difficult to copy

less visible; more difficult to copy

more visible; more difficult to copy

more visible; less difficult to copy