For companies whose main products will not be seen by consumers and whose skills lie in productivity anonymity, a ..... could be to create a brand image to create a distinctive competence.

PRINCIPLES AND PRACTICE OF MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

For companies whose main products will not be seen by consumers and whose skills lie in productivity anonymity, a ____ could be to create a brand image to create a distinctive competence.

A	strategic reference point
B	tactical benchmark
C	strategic mission
D	core advantage
E	competitive sustainability

Explanation:

Detailed explanation-1: -Companies often choose a stability strategy when their external environment doesn’t change much or after they have struggled with periods of explosive growth. If retrenchment works, it is typically followed by a stability strategy.

Detailed explanation-2: -Competitive inertia is defined as a reluctance to change strategies or competitive practices that have been successful in the past.

Detailed explanation-3: -Four conditions must be met if a firm’s resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.

Detailed explanation-4: -Michael Porter identifies three principles underlying strategy: creating a “unique and valuable [market] position” making trade-offs by choosing “what not to do” creating “fit” by aligning company activities with one another to support the chosen strategy.

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BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

PRINCIPLES AND PRACTICE OF MANAGEMENT