Competitive advantage: a. entails reducing investors' risk to near zero. b. can be identified when competitors are unable to duplicate a strategy or find it too costly to try to imitate. c. exists when competing firms are unable to find investors. d. can be permanent if the firm has successfully implemented the strategic management process.

B.

Explanation:

Competitive advantage can be identified when competitors are unable to duplicate a strategy or find it too costly to try to imitate. The implication of the foregoing is that a firm has its products and services unique. Hence, such firm is able to deliver what other firms in the industry cannot offer. This ultimately confer an edge on the firm.

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