Question

1. An effective vision statement is

   1. Our aim is to create superior customer value while controlling costs.

   2. We will be number one in the industry.

   3. Our strategy is to win at any cost.

   4. We want to be the market leader by replicating our competitor's strategy

2-

1. A firm's resource is most likely to be an internal strength and a core competency when the resource is

   1. valuable but common.

   2. easily accessible and mobile.

   3. easy to substitute.

   4. valuable and costly to imitate.

Answer 1

Q1) Our aim is to create superior customer value while controlling costs

Explanation: A vision is what a company wants to achieve. Aim to create superior customer value by controlling costs is an effective vision statement.

Q2) Valuable and costly to imitate

Explanation: If a resource is your internal strength then it must be Valuable and difficult to imitate. If it is difficult to imitate then competition decreases and you have an upper hand in the economy.