Final answer:
Firms with resources that are costly to imitate, rare, and valuable can maintain a sustained competitive advantage, as these resources provide long-term benefits that competitors cannot easily duplicate. Option d.
Step-by-step explanation:
Firms that possess and exploit costly-to-imitate, rare, and valuable resources to implement strategies can enjoy a sustained competitive advantage. This scenario occurs when a company has unique resources or capabilities that competitors cannot easily replicate, allowing it to maintain long-term superior performance. This is different from a temporary competitive advantage, which could be due to factors that are more easily imitated or overcome by competition. Option d.
As part of the strategic management process, firms must continuously assess the competitive landscape and their core competencies to navigate between competitive parity, where firms perform at the same level as rivals, and seeking a sustained competitive advantage. Ultimately, innovative firms, like Samsung, understand the importance of continuing to deliver new value to customers, acknowledging that any edge over competitors may only be temporary as others try to catch up.