A firm creates a competitive advantage when it develops and manages corporate-level cooperative strategies in a way that is valuable, rare, imperfectly imitable, and nonsubstitutable.

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This statement is true. When a firm develops and manages cooperative strategies that meet the criteria of being valuable, rare, imperfectly imitable, and nonsubstitutable, it creates a competitive advantage. Cooperative strategies involve working with other companies or organizations to achieve mutual benefits, such as sharing resources, knowledge, or technologies. By developing and managing such strategies effectively, firms can gain access to new markets or customers, reduce costs, improve product quality or innovation, or increase their bargaining power with suppliers or customers. However, for the strategy to be sustained over time and not easily copied by competitors, it needs to meet the above criteria of being valuable, rare, imperfectly imitable, and nonsubstitutable.

A Firm Creates a Competitive Advantage When It Develops and Manages