1. Corporate-level strategy is best described as:

a. strategies firms implement to gain a competitive advantage by selecting and managing a single business competing in several product markets.

b. actions a firm takes to gain a competitive advantage by selecting and managing a group of different businesses competing in different product markets.

c. actions a firm takes to gain a competitive advantage by selecting and managing one business competing in a single product market.

d. strategies firms implement to gain competitive advantage by selecting and managing a group of businesses competing in a single product market.

2. In what ways does the availability of tangible and intangible resources affect a firm's ability to create value through diversification?

a. A resource has abundance and valuableness

b. A resource is difficult to imitate and has abundance

c. A resource has rarity and valuableness

d. A resource is difficult to substitute and has abundance