What is a competitive advantage? What makes a competitive advantage sustainable?
What will be an ideal response?
A competitive advantage is the unique set of features of a company and its products that are perceived by the target market as significant and superior to the competition.
A sustainable competitive advantage is one that cannot be copied by the competition. Without this, a competitive advantage could be easily copied and the advantage lost.
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You are reading a business document that outlines your company's long-term goals and direction. These goals include "Reduce energy consumption in our offices by 20%," "Grow out market share in China from 3% to 10%," "Enter a strategic alliance with a partner in Australia to begin selling our products in Sydney and Brisbane," and "Equip all sales representatives with an app that allows them to provide an immediate quote when meeting with customers." What type of document are you reading?
A. a values statement B. a business plan C. a SMART goal D. a vision statement E. a strategic plan
Employee Roberta Smiles clocked 48 hours this week by working her regular five days (40 hours), and then returning for a full 8 hours on Sunday. Roberta's pay rate is $10.50 per hour, and Sunday is considered a double-time day by her employer. Her total gross earnings will be $488.00
Indicate whether the statement is true or false
Which of the following is an approach to help the buyer to choose the best alternative under a set of constraints?
a. factor rating method b. analytic hierarchy process (AHP) c. optimization methods d. sourcing algorithm
Patrons line up to spin the giant slot machine at the entrance to Ace Rothstein's Tangiers casino
They pour in the door at the rate of 300 per hour and it takes exactly ten seconds every time for the wheels to spin and inform the unlucky patron that they have lost a dollar rather than win a new Corvette. How many customers are in line on average? A) 2.08 customers B) 1.93 customers C) 1.67 customers D) 1.50 customers