Asked by Sarah Boktor on May 21, 2024
Verified
To build a sustainable competitive advantage, companies should focus on a single strategy.
Competitive Advantage
The edge a business has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.
- Absorb the understanding and relevance of enduring competitive superiority in prolonged financial performance.
Verified Answer
SS
Surinder SamraMay 22, 2024
Final Answer :
False
Explanation :
Building a sustainable competitive advantage involves developing multiple strategies and capabilities that work together harmoniously to create a unique position in the market that is difficult for competitors to imitate. Focusing on a single strategy may leave a company vulnerable to disruptions or shifts in the market, making it harder to maintain a competitive edge over time.
Learning Objectives
- Absorb the understanding and relevance of enduring competitive superiority in prolonged financial performance.
Related questions
Which of the Following Best Defines the Term Sustainable Competitive ...
Organizations Pursuing a Focused Cost Leadership Strategy Seek a Competitive ...
Organizations Pursuing a Cost Leadership Strategy Seek a Competitive Advantage ...
A Company's Competitive Advantage Could Be Defined as Being the ...
When Looking for a Competitive Advantage, One of the Best ...