Which of the following statements regarding competitive parity and competitive advantage is accurate?
A) Some firms develop valuable, rare, and costly-to-imitate resources and capabilities in being efficient second movers, that is, in rapidly imitating and improving on the product and technological innovations of other firms.
B) Firms that benchmark their performance against the performance of successful competitors can expect to develop at least a temporary competitive advantage.
C) Firms must be first movers to gain competitive advantages.
D) Even if all a firm does is create value in the same way as its competitors, the firm can expect to earn at least a temporary competitive advantage.

Question

Quizplus · Accepted Answer

The statement in option A is accurate. It highlights the concept of efficient second movers, which refers to firms that are able to quickly imitate and improve upon the innovations of other firms. These firms may not necessarily be the first to introduce a product or technology, but they are able to leverage their resources and capabilities to gain a competitive advantage. The other options are either incorrect or only partially accurate.

Which of the Following Statements Regarding Competitive Parity and Competitive