Answer:
One of the founding principles of the ISO 9000 standard is that:
a. the requirements are strictly the same, regardless of the organization.
Explanation:
ISO 9000 standards describe the quality management standards that organizations can follow to increase business efficiency and customer satisfaction. ISO 9000 embeds a quality management system within an organization, increasing productivity, reducing unnecessary costs, and ensuring quality of processes and products. The IS0 9000 standards are not specific to any one industry and can be applied to organizations of any size.
Question # 6
Fill in the Blank
Complete the following sentence. Remember to spell correctly.
Limiting the amount of imported sugar that can be brought into the United States is an example of a(n) ______
Answer: Import quota
Explanation:
Import quotas are a means of controlling trade into a country. It is usually done because the good being imported is produced in the importing country but when it is imported it is cheaper which will have the effect of harming the domestic producers.
Import quotas will restrict trade by limiting the amount of the specific good that can be imported into the country within a given period. For instance, the U.S. mandating that only 30,000 tonnes of sugar may come into the country in a year. After that amount, no more sugar will be allowed in.
____________________ is a step in the incident management process where an incident that cannot be responded to by an incident screener is put in a queue of another support staff member.
Answer:
Incident assignment
Explanation:
Incident Management can be regarded as as a process use in IT Service Management (ITSM). It is a process that helps in stabilizing organization's services performance whenever there there is a defection or abnormal activities. One of the step in incident Management is Incident assignment, whereby an incident that cannot be attended to by a staff is aligned on the queue for another staff to respond to.
It should be noted that Incident assignment is a step in the incident management process where an incident that cannot be responded to by an incident screener is put in a queue of another support staff member.
A colleague at work learned that your company, an industrial supply company, has been offering kickbacks to purchasing officers to secure contracts. She asks you whether she should do anything. What step do you suggest she take
Answer:
In simple words, the given case relates to business ethics. As per the normal rules and guidelines the manager should immediately respond to his or her supervisor in case any conflict of ethics comes into play.
Direct reporting to regulatory authorities or taking any legal action might lead to image degradation of the corporation. However if no action is taken by the supervisor of the manager after the complaint the subject manager should correspond to the legal authorities.
Veronica earns $60,000 per year. Matt's yearly income is $37,000. In a progressive tax system,
O Veronica will pay less income tax and Matt will pay more
O Veronica and Matt will pay the same amount of income tax
O Veronica will pay more taxes and Matt will have a government flat tax rate this year
O Veronica will pay more taxes and Matt will pay less taxes to the government
Answer:
Veronica will pay more taxes and Matt will pay less taxes to the government
Explanation:
In a progressive tax system, the percentage rate of taxation increases as the income rises. It means that individuals with a high income will be taxed at a higher tax rate than low-income earners. A progressive tax rate is based on an individual income level; the higher the income, the higher the tax rate.
Veronica earns more than Matt. Under the progressive tax system, veronica will be taxed at a higher rate than Matt. Therefore, veronica will pay more taxes than Matt.
1. _______ Allen was driving home when a deer jumped out. The deer damaged his truck.
2. _______ A lightning strike at Troy’s home damages his TV and DVD player.
3. _______ ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt.
4. _______ Adam’s job is deciding if the insurer will accept a risk and what the cost will be.
5. _______ Amy decides not to purchase a new car because insurance is so expensive.
6. _______ Bill is paid for a collision claim based on the book value of his vehicle.
7. _______ Cheetum’s Body Shop padded the repair bill for Chris’s pick up.
8. _______ Janet hit a car and someone was hurt. This covers the medical expenses.
9. _______ Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.
10. _______ Missy owes for damage to John’s car because she hit him while talking on her cell.
11. _______ Monica’s life insurance costs more but includes a savings component.
12. _______ Pat insures his business partner, Chuck, with a $1 million life insurance policy.
13. _______ Rob gets a bill in the mail from ABC Insurance Company for $125.
14. _______ Ross contacted this business when he had an automobile accident.
15. _______ Tammy hit a telephone pole and did over $2000 damage to her car.
16. _______ This requires Joe to buy liability insurance prior to getting a license plate.
17. _______ Thomas shut the trunk on his thumb and went to the emergency room.
18. _______ Tony and Chris staged an auto accident to collect claim benefits.
19. _______ Wanda’s car was damaged by hail during a storm.
20. _______ An ambulance transported Melanie to the hospital after the other car crossed the center line and caused a wreck.
a. Actual Cash Value
b. Bodily Injury Liability
c. Collision
d. Comprehensive
e. Financial Responsibility Law
f. Homeowner’s
g. Insurable Interest
h. Insurance Company/Insurer
i. Insurance fraud
j. Insured
k. Joint Insurance
l. Medical Payments
m. Premium
n. Property Damage Liability
o. Renter’s
p. Risk management
q. Underwriter
r. Uninsured and Underinsured Motorist
s. Whole Life
Answer:
Matching Situation with appropriate term:
1. _c. Collision __ Allen was driving home when a deer jumped out. The deer damaged his truck.
2. _n. Property Damage Liability _ A lightning strike at Troy’s home damages his TV and DVD player.
3. _h. Insurance Company/Insurer _ ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt.
4. _p. Risk management _ Adam’s job is deciding if the insurer will accept a risk and what the cost will be.
5. __o. Renter’s __ Amy decides not to purchase a new car because insurance is so expensive.
6. __m. Premium _ Bill is paid for a collision claim based on the book value of his vehicle.
7. __i. Insurance fraud _ Cheetum’s Body Shop padded the repair bill for Chris’s pick up.
8. _b. Bodily Injury Liability _ Janet hit a car and someone was hurt. This covers the medical expenses.
9. _r. Uninsured and Underinsured Motorist _ Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.
10. _d. Comprehensive _ Missy owes for damage to John’s car because she hit him while talking on her cell.
11. _m. Premium_ Monica’s life insurance costs more but includes a savings component.
12. _s. Whole Life__ Pat insures his business partner, Chuck, with a $1 million life insurance policy.
13. __m. Premium__ Rob gets a bill in the mail from ABC Insurance Company for $125.
14. __h. Insurance Company/Insurer _ Ross contacted this business when he had an automobile accident.
15. _n. Property Damage Liability _ Tammy hit a telephone pole and did over $2000 damage to her car.
16. _e. Financial Responsibility Law __ This requires Joe to buy liability insurance prior to getting a license plate.
17. __l. Medical Payments __ Thomas shut the trunk on his thumb and went to the emergency room.
18. __i. Insurance fraud_ Tony and Chris staged an auto accident to collect claim benefits.
19. _n. Property Damage Liability_ Wanda’s car was damaged by hail during a storm.
20. _b. Bodily Injury Liability_ An ambulance transported Melanie to the hospital after the other car crossed the center line and caused a wreck.
Explanation:
Appropriate terms:
a. Actual Cash Value
b. Bodily Injury Liability
c. Collision
d. Comprehensive
e. Financial Responsibility Law
f. Homeowner’s
g. Insurable Interest
h. Insurance Company/Insurer
i. Insurance fraud
j. Insured
k. Joint Insurance
l. Medical Payments
m. Premium
n. Property Damage Liability
o. Renter’s
p. Risk management
q. Underwriter
r. Uninsured and Underinsured Motorist
s. Whole Life
Identify each word that represent each situation
1. Collision is when Allen was driving home when a deer jumped out. The deer damaged his truck.
2. A lightning strike at Troy’s home damages his TV and DVD player is called Property Damage Liability
3. ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt. This is called Insurance Company/Insurer
4. Risk management occurs when Adam’s job is deciding if the insurer will accept a risk and what the cost will be.
5. Amy decides not to purchase a new car because insurance is so expensive. This is called Renter’s
6. Premium is the Bill paid for a collision claim based on the book value of his vehicle.
7. Insurance fraud is when Cheetum’s Body Shop padded the repair bill for Chris’s pick up.
8. Janet hit a car and someone was hurt. This covers the medical expenses. This is refered to as Bodily Injury Liability
9. Uninsured and Underinsured Motorist is when Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.
10. Comprehensive : Missy owes for damage to John’s car because she hit him while talking on her cell.
11. Premium: Monica’s life insurance costs more but includes a savings component.
12. Whole Life: Pat insures his business partner, Chuck, with a $1 million life insurance policy.
13. Premium: Rob gets a bill in the mail from ABC Insurance Company for $125.
14. Insurance Company/Insurer: Ross contacted this business when he had an automobile accident.
15. Property Damage Liability: Tammy hit a telephone pole and did over $2000 damage to her car.
16. Financial Responsibility Law: This requires Joe to buy liability insurance prior to getting a license plate.
17. Medical Payments: Thomas shut the trunk on his thumb and went to the emergency room.
18. Insurance fraud: Tony and Chris staged an auto accident to collect claim benefits.
19. Property Damage Liability: Wanda’s car was damaged by hail during a storm.
20. Bodily Injury Liability: An ambulance transported Melanie to the hospital after the other car crossed the center line and caused a wreck.
Read more:
https://brainly.com/question/24997104
Give three examples of possible age-based conflicts in the workplace
An accountant passed the closing entries of the expenses and then closed all the expense accounts by crediting them. Which account should she debit to complete the dual aspect of the journal entry
Answer:
Profit and Loss Account or Income Statement
Explanation:
When closing off an expense, we debit the Expense Account and Credit the Profit and Loss Account or Income Statement. This is because an Expense is accounted as a decrease in the profit of the company. The Final Statement that reports profit is the Profit and Loss Account or Income Statement.
The 2019 balance sheet of Dyrdek’s Skate Shop, Inc., showed $530,000 in the common stock account and $2.3 million in the additional paid-in surplus account. The 2020 balance sheet showed $570,000 and $2.5 million in the same two accounts, respectively. If the company paid out $320,000 in cash dividends during 2020, what was the cash flow to stockholders for the year?
Answer:
$80,000
Explanation:
[tex]The \ expression \ for \ calculating \ cash \ flow \ to \ stockholders \ is:[/tex]
[tex]Cashflow \ = \ Dividend \ paid \ during \ the \ year \ - \ change \ in \ t he \ value \ of \ common \ stock \ during \ - \ change \ in \ value \ of \ stock \ in \ the \ previous \ year[/tex][tex]Here;[/tex]
[tex]Change \ in \ value \ of \ Common \ stock \ during \ the \ year \ =[/tex] [tex]\ Value \ of \ Common \ stock \ of \ the \ Curren t \ Year - Value\ of \ Common \ stock \ of \ the \ Previous \ Year[/tex]
[tex]Change \ in \ valu e \ of \ Additional \ paid \ in \ surplus \ account \ during \ the \ year =[/tex]
[tex]Value \ of \ Additional \ paid \ in \ surplus \ account \ o f \ the \ Current \ Year \ -[/tex] [tex]\ Value \ of \ Additional \ paid \ in \ surplus \ account \ of \ th e \ Previous \ Year[/tex]
From the information given:
[tex]Dividend \ Payment \ during \ the \ year[/tex] 2020 = $320000
[tex]Value \ of \ stock \ in \ current \ yr[/tex]= i.e. 2020 = $570000
[tex]Value \ of \ stock \ in \ previoius \ yr[/tex] = i.e. 2019 = $530000
Change = $570000 - $530000 = $40,000
[tex]Value \ of \ Ad ditional \ paid-in \ surplus \ acct \ of \ the \ current \ year[/tex] = $2,500,000
[tex]Value \ of \ Ad ditional \ paid-in \ surplus \ acct \ of \ the \ previous \ year[/tex] = $2,300,000
Change = $2,500,000 - $2,300,000 = $ 200000
∴
[tex]By \ using \ the \ above \ information \ in \ the \ formula \ for \ calculating \ the \ cash \ flow \ to[/tex]
[tex]\ stackholder, \ we \ get:[/tex]
= $320000 - $40,000 - $ 200000
= $80,000
What should be the minimum amount of years you allow your retirement
investments to grow?
a. 10 years
b. 20 years
c. 30 years
d. 40 years
Answer:
a. 10 years
Explanation:
Investing for retirement is a long-term project. The earlier a person starts to invest, the better for them as they will enjoy the benefits of compounding.
Ideally, saving for retirement should start the moment one gets employed. This gives them ample time to save and accumulate money for use in retirement. There is no upper limit as to how many years one should save for retirement. However, one needs to save for at least ten years to have sufficient funds for retirement.
How companies can link their compensation and evaluations to organizational objectives?
Answer:
For a company’s compensation strategy to be effective, it must be linked to the overall business strategy. Because compensation accounts for 30-60% of business costs, it is essential for organizations to identify the drivers behind pay. For this reason, the foundational step of creating any solid compensation strategy is linking it to the business strategy.
Explanation:
A sudden stop will be easier to navigate if the country borrows internationally in foreign currencies and lend locally in its domestic currency.
a. True
b. False
Answer: False
Explanation:
A sudden stop refers to the sudden decline in net capital inflows in the economy from outside. This is a significant method by which the economy can have access to foreign exchange.
If the country therefore borrows internationally in foreign currencies whilst lending in domestic currency, the sudden stop will be difficult to navigate because it will impair the country's ability to pay off the international creditors it has because it will not have enough of the required foreign currency to pay them.
You are considering a gradual expansion of your restaurant's square footage. Three tables per year will increase your profits by 4% per year. Your current yearly profit is $135,000. What will your annual profit be after 5 years?
a) $138,909
b) $155,344
c) $164,248
d) $188,125
Answer:
Annual profit after 5 year = $164,248 (Approx)
Explanation:
Given:
Current year profit P = $135,000
Growth g = 4 % = 0.04
Number of year n = 5 year
Find:
Annual profit after 5 year
Computation:
Annual profit after 5 year = P(1+g)ⁿ
Annual profit after 5 year = 135,000(1+0.04)⁵
Annual profit after 5 year = $164,248 (Approx)
Answer:
C) $164,248
Explanation:
None, I did the quiz and that was the answer
This is economics question
Answer:
I think "A & B are correct."
Explanation:
Risk*
Adaptability is the ability and willingness to adapt to changing situations. This activity is important because people who are more adaptable are much better at dealing with organizational changes than people who are less adaptable.
a. True
b. False
Answer:
a. True
Explanation:
This statement is true, because adaptability is a necessary characteristic of the organizational environment, because in the current context, there is an extremely competitive business environment and whose information flow is intense and changeable, therefore it is a condition for survival that companies adapt to situations internal and external factors inherent to the market in which they operate, such as a country's economy, technological changes, changes in consumer trends, etc.
how will you prove that a piece of stone occupies space
Explanation:
it is so weird, but try to understand
what type of leadership focuses on alternative methods of conducting organizational change processes.
Answer: Organizational change leader
Explanation:
The organizational change leader is the big hand for controlling the changes in the organization and management. This involves the change centric leadership. The leader should not look upon the upward organizational hierarchy to seek help instead must take actions and must implement them on others. Empowering the stakeholders. Managing the team discussions and working ethics and credibility.
you are considering a project with the cash flows given below. calculate the present value of the future cash flows of the project. discount rate 25%
Answer:
the present value of the future cash flows is $846.57
Explanation:
The computation of the present value of the future cash flows is shown below:
The Present value of inflows is
= Cash inflows × Present value of discounting factor (rate%,time period)
= $100 ÷ 1.25 + $200 ÷ 1.25^2 + $300 ÷ 1.25^3 + $400 ÷ 1.25^4 + $500 ÷ 1.25^5 + $600 ÷ 1.25^6
= $846.5664
Hence, the present value of the future cash flows is $846.57
When is a manufacturer most likely to RAISE the price of a product?
when demand for the product increases
when a competitor makes a better product
ОООО
C
when a cheap substitute for the product appears in stores
when the cost of raw materials declines
Answer:
Its (A) When demand for the product increases
Explanation: I just tooke the Economics Exam.
Select the following three roles in a business that do not carry personal liability for any judgments against the company.
the owner in a sole proprietorship
a limited partner in a partnership
a general partner
a corporation shareholder
the CEO of a major corporation
Answer:
first third and fourth
Explanation:
saw it on quizlet
RWJ inc., produces the different medical devices. the following relates to the three products for next year. under an activity-based costing system, the per-unit overhead cost of device z is closest to
Answer:
Exing relates to the three products for next yeaplaRWJ inc., produces the different medical devices. the following relates to the three products for next year.nation:
A manager receives a forecast for next year. Demand is projected to be 510 units for the first half of the year and 1,020 units for the second half. The monthly holding cost is $2 per unit, and it costs an estimated $55 to process an order. a. Assuming that monthly demand will be level during each of the six-month periods covered by the forecast (e.g., 85 per month for each of the first six months), determine an order size that will minimize the sum of ordering and carrying costs for each of the six-month periods.
Answer:
290 units
Explanation:
The order size that will minimize the sum of ordering and carrying costs is known as the Optimum Order Quantity or Economic Order Quantity (EOQ).
At this point, the Ordering and Carrying costs will be at their minimal.
Optimum Order Quantity = √2 × Annual Demand × Ordering Cost per unit ÷ Holding Cost per unit
Where,
Annual Demand = 1st half + 2nd half
= 510 units + 1,020 units
= 1,530 units
Therefore
Optimum Order Quantity = √ (2 × 1,530 units × $55) ÷ $2
= 290
Conclusion
The order size that will minimize the sum of ordering and carrying costs is 290 units
Describe the role of information technology in globalization.
Answer:
Information technology facilitates the effortless exchange of information across borders, as well as the expansion of resources from countries all across the world. This expansion leads to new ideas and products, as well as new ways of doing business.
Explanation:
make it braintliest please
Warner Company purchases $50,100 of raw materials on account, and it incurs $62,800 of factory labor costs. Supporting records show that (a) the Assembly Department used $33,500 of the raw materials and $44,400 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments.
Answer:
[Debit] Work In Process : Assembly Department $47,064
[Debit] Work In Process : Finishing Department $19,504
[Credit] Overheads $66,568
Explanation:
Note that overheads are assigned to departments on the basis of 160% of labor costs. Thus, our first point of call is to determine the labor cost for the respective departments. After that we then apply the 160 % to arrive at the Overheads assigned to that department
Step 1
Determine Departmental Labor Cost
Total Labor Costs = $62,800
Assembly Department = ( $44,400)
Finishing Department = $18,400
Step 2
Determine Overhead Cost for the Departments
Assembly Department ( $44,400 × 160 %) = $47,064
Finishing Department ( $18,400 × 160 %) = $19,504
Step 3
Journalize
Debit the Work In Process Account for the respective department and Credit the Overheads Account as above.
with vivid example from Tanzania explain how commerce completes production process
Answer:
Commerce is a fundamental part of the productive economic process, through which the goods and services that were produced in an economy are placed on the market. Thus, it is part of the third sector of the economy, capitalizing production and supplying the public with the goods and services it needs for its daily development.
Thus, for example, the Tanzanian economy is made up of 80% agricultural production, which makes up the primary sector of the economy. This country lacks a developed industrial structure, so its secondary sector is very short. Now, the agricultural products that are produced in the country are marketed both in the domestic market and through exports, with which the tertiary sector of the Tanzanian economy is based in turn on the nation's primary production.
Standard Deviation (%) R 2 Beta Standard Error of Beta TDM 13 0.49 0.83 0.11 LLW 21 0.01 0.21 0.25 What proportion of each stock's risk was market risk, and what proportion was specific risk
Answer:
Note: These values are not from this question, as this question is incomplete and lacks necessary data. So, in order to solve this question and deliver you the main concept. I have chosen some random values.
Answer is explained in the explanation section.
Explanation:
Solution:
Data Given:
This question is about the two well known Canadian Stocks namely:
1. Toronto Dominion Bank
2. Research in Motion.
Data For Toronto Dominion Bank:
For answering about the proportion of risk involved in each of stocks, we just need the value of [tex]R^{2}[/tex].
Note: These values are not from this question, as this question is incomplete and lacks necessary data. So, in order to solve this question and deliver you the main concept. I have chosen some random values.
[tex]R^{2}[/tex] value for TDB = 0.77
[tex]R^{2}[/tex] value of 0.77 means, 77% of the risk is derived from the market movements. So we can say it as this 0.77 or 77% of proportion for Toronto Dominion Bank is of market risk.
Generally speaking, in market risk there is the probability that people will lose their investments due to the factors that create negative impacts on the market.
Whereas, specific risk is totally opposite to market risk and people specific to any company or group may experience losses but not the whole market, which is the case in market risk.
Where as, remaining 0.23 or 23% of the risk is unique risk or specific risk.
Similarly for the other stock:
[tex]R^{2}[/tex] value for Research in Motion = 0.44
[tex]R^{2}[/tex] value of 0.44 means 44% of the risk is derived from the movements of the market or it is market risk. On the other hand, remaining 0.66 or 66% of the risk is specific risk or unique risk.
why does a venue require an F&B minimum
Cartwright Brothers preferred stock has an annual dividend of $3.50 per share if the required rate of return on the preferred stock is 12% how much would you be willing to pay for one share of the preferred stock
Answer:
$29.17
Explanation:
Calculation for how much would you be willing to pay for one share of the preferred stock
Using this formula
Amount willing to pay=Preferred stock annual dividend/Required rate of return on preferred stock
Let plug in the formula
Amount willing to pay=$3.50 per share/0.12
Amount willing to pay=$29.166
Amount willing to pay=$29.17 (Approximately)
Therefore how much would you be willing to pay for one share of the preferred stock is $29.17
Assume an after-tax savings interest rate of 7 percent and a tax rate of 28 percent. (a) Calculate the total rental cost and total buying cost
Complete Question
Annual rent $ 7,380
Insurance 145
Security deposit 650
Annual mortgage payments $9,800 ($9,575 is interest)
Property taxes 1,780
Insurance/maintenance 1,050
Down payment/closing costs 4,500 Growth in equity 225
Estimated annual appreciation 1,700
Assume an after-tax savings interest rate of 7 percent and a tax rate of 28 percent.
(a) Calculate the total rental cost and total buying cost.
Answer:
Explanation:
(a)Rental Costs
Buying Costs $7,380
Rent $9,800
The following calculations were made:
Interest lost on security deposit
= Security deposit × 7%
= $650 × 0.07 = $45.5
Interest lost on down payment and closing cost
= Down payment × 7%
= $4,500 × 0.07 = $315
Tax savings for mortgage interest =
Interest × 28%
$9,575 × 0.28 = $2,681
Tax savings for property taxes =
= Property taxes × 28%
$1,780 × 0.28 = $498
Longshore Group bought a piece of equipment for use in its operations under the following terms: 5 annual payments of $64,000 for the equipment, including interest. Although the list price of the equipment was $315,000, Longshore Group could have bought it for $300,000 cash. Salvage value is $20,000. Which amount should Longshore Group use to record the purchase of the machine on its books
Answer:
$300,000
Explanation:
Calculation for Which amount should Longshore Group use to record the purchase of the machine on its books
Amount to record machine purchased=($64,000*5 annual payment)-$20,000
Amount to record machine purchased=$320,000-$20,000
Amount to record machine purchased=$300,000
Therefore the amount that Longshore Group should use to record the purchase of the machine on its books is $300,000
In your own words, describe the differences between the industrial organization (I/O) and the resource-based models of above-average returns. As an analyst, how would you determine the significance or validity of these models with respect to a given industry
Answer:
The differences between the industrial organization (I/O) and the resource-based models of above-average returns can be summarized as follows:
1. The I/O model stresses that above-average returns can only be achieved given the opportunities and threats of the prevailing market structure. This implies that the returns that the entity achieves depend on whether the market is a perfect competition, a monopoly, a monopolistic competition, or an oligopoly. It is eternally-focused. The I/O model is a market-based strategic approach that is environmentally-driven.
2. On the other hand, the resource-based model explains that the entity could achieve above-average returns because of the entity's unique or heterogeneous resources and capabilities. Therefore, this approach tends to match a firm's resources and capabilities to the market opportunities that arise in the external environment. This strategic approach concentrates on the strengths and weaknesses of the internal resources and capability endowment.
3. In any given industry, the significance or validity of these models can be determined by examining how the business entity spends its resources. Is the entity developing its internal capability through training and, what is its cultural orientation? Or is it fighting the competition with its resources, thereby dissipating energy on market positioning?
Explanation:
The I/O model or market-based theory is of the view that market opportunities and threats determine the achievable outcomes for an entity. It takes what the market gives. The resource-based theory has a different view. It suggests that the internal resources an entity possesses are valuable, rare, uncommon, and difficult for competitors to replicate. Therefore, it tries to develop these resources and capabilities in order to achieve superior performance. It is not a price or profit taker but a price mover and profit shaker.
