Resource-based model of above-average returns

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Compare and contrast the I/O Model of Above-Average Returns with the Resource-Based Model of Above-Average Returns. Understand the assumptions of each before answering the discussion question. Note: These models challenge the manager to seek out the greatest profit potential and then learn how to use their resources to implement value-creating strategies given the characteristics of the industry. But to use these strategies it is assumed that the decision makers (managers and leaders) are rational and committed to acting in the firm's best interests. •If you were the manager implementing these models how could you use them in the firm's best interests? Could managers use them "against the firm's best interests". If you saw these models being implemented in an unethical way, what would you do? •Finally, explain how these models affect the strategic management process of the firm.

Reference no: EM13987476

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