Define and elaborate on competitive advantage.
What will be an ideal response?
Competitive advantage is superior performance relative to other competitors in the same industry or the industry average. To gain a competitive advantage, a firm needs to provide either goods or services consumers value more highly than those of its competitors while keeping its costs comparable to competitors, or goods or services similar in value to the competitors' at a lower cost. The rewards of superior value creation and capture are profitability and market share. Managers achieve this combination of value and cost through strategic positioning. They stake out a unique position within an industry that allows the firm to provide value to customers, while controlling costs.
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A(n) ________ is an event that occurs when one person consciously decides to induce another person to rely and act on a misrepresentation.
A. fraudulent misrepresentation B. unilateral mistake C. bilateral mistake D. erroneous misrepresentation
It is inappropriate for an interviewer to ask men if they are married or have children.
Answer the following statement true (T) or false (F)
Deregulation is the least for ________
A) customer premises equipment B) local telephone service C) long-distance telephone service D) All of the above are deregulated to about the same degree.
In an organization, security sensitivity for each position should be documented
Indicate whether the statement is true or false