The greater the extent to which a firm's assumptions and hypotheses accurately describe how the competition in the industry is likely to evolve, and how that evolution can be exploited to earn a profit, the more likely it is that a firm will gain a competitive advantage from implementing its strategies.

The statement is true.

Explanation:

The first stage of a business competitive strategy is to assess the company's internal strenghts and weaknesses. And the second step is to assess the competitor's strenghts and weaknesses.

If after the second step, the competitors are diagnosed well, the strategy that the company devises to gain a competitive advantage are likely to be succesful, simply because the strategy was devised while having an accurate profile of the competing firms.

Looting is simply stealing from the business. It is simply an act that is done to make a business inoperable.

Looting is an act of socially irresponsible people. They are acts that do not benefit the society at the end of the day. It reduces economic growth, causes a decline in welfare and also bad to the environment.

The triple bottom effect teaches that organizations should be able to measure their social as well as environmental impacts. Instead of being just focused on gains, they should be focused on the people, the environment also.

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