Asked by Catherine Renshaw on Jul 19, 2024
Verified
The facet of a business that the business does better than all of its competitors is known as which of the following?
A) competitive advantage
B) competitive edge
C) competitive power
D) absolute advantage
Competitive Advantage
A strategic advantage one company has over its industry competitors, allowing it to generate greater sales or margins and/or retain more customers.
Competitive Edge
An advantage that a company has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.
Competitive Power
The ability of a company or nation to produce goods and services that meet the quality standards of the local and global markets at prices that are competitive and provide adequate returns on the resources employed.
- Understand the critical role of competitive advantage and the tactics employed to attain it.
Verified Answer
Learning Objectives
- Understand the critical role of competitive advantage and the tactics employed to attain it.
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Competitive Advantage Is the Ability to Outperform One's Competitors