If a firm's present suppliers are expensive and unreliable in meeting the firm's needs for parts, components and/or raw materials, the firm should pursue a horizontal integration strategy. Which of the following represents the best example of a strategic objective (as opposed to a financial objective)? A. Achieve revenue growth of 10% annually B. Increase market share from 17% to 22% within 3 years and achieve the lowest overall costs of any producer in the industry C. Improve cash flow D. Increase profit margins Short Define the formulation strategy process. List the steps that are included in this process. Long Explain the resource-based theory. List three resources that can be used to achieve competitive advantage.

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game.expert answer