Explain which model (I / O model or resource-based model) you believe will best help a firm in the industry you researched earn above-average returns.

The resource-based model is the best approach for firms in the telecommunications industry like Verizon to earn above-average returns. The resource-based model emphasizes that building and leveraging core competencies or unique resources within a firm can lead to increased competitive advantage and higher economic profits. By doing so, companies such as Verizon can acquire an edge over its competitors by focusing on specific strengths that are difficult for other rivals to imitate; thus allowing them to improve their overall profitability.

In the case of Verizon, this could mean utilizing their expertise in cloud computing services, 5G networks, artificial intelligence (AI), Internet of Things (IoT) and data analytics more effectively than other companies in order to gain better market control which leads to enhanced customer experience and further growth opportunities. This strategy will help Verizon in gaining strategic advantage over competitors while being able to sustain high returns – especially when competing against global giants like AT&T, who have strong presence worldwide due to their size and scale.