BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A firm dominating competitors over time has sustained competitive advantage. A firm that continuously underperforms its rivals or the industry average has a competitive disadvantage. Two or more firms that perform at the same level have competitive parity.

Detailed explanation-2: -Competitive disadvantage (CD) is a term used to describe a business’ inability to effectively compete with their competitors. The chilling effect of CD is a shrinking customer base.

Detailed explanation-3: -Competitive advantages are attributed to a variety of factors including cost structure, branding, the quality of product offerings, the distribution network, intellectual property, and customer service.

Detailed explanation-4: -Anything that a firm does especially well compared to rival firms is referred to as A) competitive advantage. Some strategies implemented within organizations include having a healthy competition with rival firms. Thus, an organization with a higher lead than rival firms has a competitive advantage.