Resource-Based View (RBV) Quiz

What strategic approach focuses on a company's internal resources to gain a competitive edge?

• Resource-Based View

• Market-Based View

• SWOT Analysis

• Industry Analysis

Who is credited with formalizing the Resource-Based View framework?

• Michael Porter

• Henry Mintzberg

• Jay Barney

• Peter Drucker

According to RBV, what are the primary drivers of a firm's competitive advantage?

• Government policies

• Customer preferences

• Internal resources

• External market trends

Which of the following is NOT a component of the VRIN framework?

• Valuable

• Substitutable

• Rare

• Inimitable

What makes a resource 'rare' according to the VRIN framework?

• It is expensive to produce

• It is uncommon within the industry

• It is easily accessible

• It is frequently used

What is the first step in applying the RBV framework in a business?

• Identifying key resources

• Developing a marketing strategy

• Setting financial goals

• Analyzing competitors

How can companies sustain their competitive advantage according to RBV?

• By increasing advertising

• By reducing costs

• By expanding into new markets

• By investing in and protecting valuable resources

Which company is known for leveraging its brand and product innovation as part of its RBV strategy?

• Microsoft

• Apple

• Nike

• Samsung

What is a key benefit of the Resource-Based View for businesses?

• Increased government support

• Short-term market gains

• Higher employee turnover

• Sustainable competitive advantage

Which company uses knowledge management as a key resource in its RBV strategy?

• Amazon

• Tesla

• Infosys

• Google