.Test Bank-Financial and Management Accounting An Introduction 4Ed Ch 2 by Pauline Weetman.

Strong supplier relations and efficient supply chains help firms such as Walmart to achieve operational excellence. True FalseTo build a sustainable competitive advantage, companies should focus on a single strategy. True FalseIt is not always necessary to go through all the steps in the marketing planning process. True FalseiTunes software is often credited for the success of the Apple iPod MP3 player, because it made the iPod easier to use than competing players, and was difficult for competitors to duplicate. This is an example of a sustainable competitive advantage.Firms are typically more successful when they focus on opportunities that build on their competitors' strengths. True FalseDuke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a WeaknessIsaac is looking for ways to offer new goods and services to his existing customers. He is pursuing a market development strategy