The concepts of flexibility and real options are closely related to the importance of history and path dependence that are potential sources of sustained competitive advantage.

Question

Quizplus · Accepted Answer

The concepts of flexibility and real options are based on the idea of adapting to changes in the external environment and taking advantage of opportunities as they arise. This requires an understanding of the historical context and the paths that have led the company to its current position. By building flexibility and real options into its strategy, a company can create a sustainable competitive advantage that is based on adapting to changing circumstances and seizing opportunities that others may not see. Therefore, flexibility, real options, history, and path dependence are closely related concepts that can contribute to sustained competitive advantage.

The Concepts of Flexibility and Real Options Are Closely Related