The goal of strategy implementation is to develop a permanent competitive advantage

The uniqueness of a firm’s resources and capabilities is the basis for a firm’s strategy and its ability to earn above-average returns under the industrial organization (I/O) model

Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy

Companies searching for opportunities in the global economy would likely conclude that the three leading European economies of Germany, United Kingdom, and France would be good investments because they are predicted to continue increasing in size

When a firm earns lower-than-average returns, the highest priority is given to satisfying the needs of capital market stakeholders over the needs of product market and organizational shareholders

The two primary drivers of hypercompetition are the emergence of the global economy and technology

Risk in terms of financial returns reflects an investor’s uncertainty about the economic gains or losses that will result from a particular investment

The firm’s mission is more concrete than its vision

An organization’s willingness to tolerate or encourage unethical behavior is a reflection of its core values

Above-average returns are returns in excess of what an investor expects to earn from other investments with a similar amount of risk