[Answer] Tockit is a children’s toy developer that uses the resource-based model of above-average returns. Which of the following steps does it use in its business?a. Study the external environment especially the industry environment.b. Use the firm’s strengths to implement the strategy.c. Find the most attractive industry in which to compete.d. Determine the firm’s capabilities.

Answer: d. Determine the firm’s capabilities.
Tockit is a children’s toy developer that uses the resource-based model of above-average returns. Which of the following steps does it use in its business?a. Study the external environment …

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