ANYTHING THE FIRM DOES ESPECIALLY WELL COMPARED TO RIVAL FIRMS COU...

19) Anything the firm does especially well compared to rival firms could be considered a competitive advantage. Answer: TRUE Diff: 1 Objective: 1.04 Define and give examples of key terms in strategic management. Learning Outcome: Define strategic management and identify its basic concepts 20) Once a firm acquires a competitive advantage, they are usually able to sustain the competitive advantage indefinitely. Answer: FALSE Diff: 2 Objective: 1.08 Discuss how a firm may achieve sustained competitive advantage. Learning Outcome: Discuss strategies that companies use to acquire and maintain competitive advantages