Assertion (A) A firm's relative position within its industry determines whether the firm's overall profitability is above or below the industry average.
Reason (R) The fundamental basis of average profitability in the long run is sustainable competitive advantage.

A) (A) and (R) both are correct and (R) is the right explanation of A B) (A) and (R) both are correct, but (R) is not the right explanation of (A) C) (A) is correct, but (R) is incorrect D) (R) is correct, but (A) is incorrect

Answer & Solution

Correct Answer: Option A

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Assertion (A) A firm's relative position within its industry determines whether...

Assertion (A) A firm's relative position within its industry determines whether the firm's overall profitability is above or below the industry average. Reason (R) The fundamental basis of average profitability in the long run is sustainable competitive advantage.

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Related Questions on Strategic Management

Assertion (A) A firm's relative position within its industry determines whether the firm's overall profitability is above or below the industry average.
Reason (R) The fundamental basis of average profitability in the long run is sustainable competitive advantage.