Asked by Haneen Hmedat on Jun 10, 2024
Verified
A company has a significant competitive advantage when it is more efficient than a rival in a value chain activity of high strategic importance.
Competitive Advantage
The attributes that allow an organization to outperform its competitors.
Strategic Importance
The significance of an action or entity in achieving long-term goals and sustaining competitive advantage.
- Comprehend the relationship between efficiency in value chain activities and competitive advantage.
Verified Answer
JC
Jessica CreadickJun 14, 2024
Final Answer :
True
Explanation :
Efficiency in a high strategic importance value chain activity can give a company a significant competitive advantage by allowing it to produce goods or services at a lower cost than its competitors, or by providing better quality products or services at the same cost. This can result in increased profitability, market share, and customer loyalty.
Learning Objectives
- Comprehend the relationship between efficiency in value chain activities and competitive advantage.
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