What factors lead to competitive advantage for a firm?
What will be an ideal response?
Cost leadership (lower costs than competing firms), product differentiation, selection and focus on a market niche, outsourcing and merger strategies, and international focus or expansion are factors in the competitive advantage of the firm.
You might also like to view...
When the dollar appreciates, the cost to Americans of foreign goods
a. rises and the CPI falls. b. rises and the CPI rises. c. falls and the CPI rises. d. falls and the CPI falls.
Too few resources are devoted to the creation of knowledge because profit-seeking firms
a. undervalue knowledge in their pursuit of revenues. b. overuse their patents. c. tend to free-ride on the knowledge that others have developed. d. tend to rely on existing employee knowledge.
To consumers in an economy ______ are positive incentives, whereas ______ are negative incentives.
a. high prices; low taxes b. low prices; high wages c. high prices; high taxes d. low prices; high taxes
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90