Question is about RBV and VRIO Analysis Restaurants in Toronto will be soon able to participate the Michelin rating. The rating (1, 2, 3 stars) is based on a restaurants taste and creativity of its dishes and the quality of ingredients and services. Three-star Michelin restaurants are considered esteemed worldwide. An addition or loss of a

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Question is about RBV and VRIO Analysis Restaurants in Toronto will be soon able to participate the Michelin rating. The rating (1, 2, 3 stars) is based on a restaurants taste and creativity of its dishes and the quality of ingredients and services. Three-star Michelin restaurants are considered esteemed worldwide. An addition or loss of a star can dramatically affect the success and reputation of a restaurant. As of 2022, there are five three-star restaurants in New York, three in San Francisco, and one in Chicago.  Use the RBV and VRIO analysis in Chapter 3 to discuss how a 3-star Michelin restaurant has a sustainable competitive advantage over other restaurants (4 points). Imagine that you only have very limited resources, should you try to get Michelin stars and why (1 point)?

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