Final answer:
Real estate and site location in the fast-food industry are a resource and capability, identified as option (d). These include tangible assets and skills that can give a company a competitive edge, contributing to its success.
Step-by-step explanation:
Real Estate and Site Location in Fast-Food Industry
In the fast-food industry, real estate and site location skills are critical for the success of a business. These elements are best categorized as a resource and capability, which is option (d) among the provided choices. These terms are used within the context of strategic management and are focused on what a company owns or can do well. Specifically, real estate refers to the physical land or property that the company owns or leases for its operations, while site location skills pertain to the ability to choose the best locations for operational success. Good site location can include factors like high foot traffic, visibility, and convenience, which are essential in the fast-food sector.
These are considered resources and capabilities because they are both assets that the company can leverage (real estate) and skills that can be developed internally (site location) to gain competitive advantage. The purpose of assessing these areas is to create strategies that utilize strengths and address any weaknesses to compete effectively.
Drawing on economic geography, having advantageous site factors such as a great location can determine a fast-food restaurant's accessibility to customers, while situation factors, such as being close to suppliers or being centrally located amongst other businesses, can affect its operational efficiency and attractiveness. As businesses strive to gain national income and increase their value-added services, being in a prime location with the capability to choose such prime spots are unquestionable assets.