Please answer it true or false:

1. Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy

2. The goal of strategic management is to develop a competitive advantage that is permanent.

3. The I/O (industrial organization) model assumes that the uniqueness of a firm's resources and capabilities is its main source of above-average returns.

4. Five forces model suggests firms should target the industry with the highest potential for above-average returns -then implement either a cost-leadership or a differentiation strategy.

5. The uniqueness of a firm's resources and capabilities is the basis for a firm's strategy and determines its ability to earn above-average returns under the I/O view.

6. An effective vision stretches and challenges people and can result in increased innovation as illustrated by Steve Jobs, who was known to think bigger and differently than most people.

7. Organizational mission statements typically do not include statements about profitability and earning above-average returns.

8. Demographic, economic, political/legal, sociocultural, technological, global, and physical are the seven elements comprising the industry environment.