BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increased efficiency.
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what sets an organization apart.
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a strength of the organization.
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intangible resources
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Detailed explanation-1: -Competitive advantage can best be described as B) what sets an organization apart. Competitive advantage is gained through achieved differentiation, whether that differentiation is in the product, business model, or cost approaches. Increased efficiency is the result of competitive advantage.
Detailed explanation-2: -A competitive advantage is anything that gives a company an edge over its competitors, helping it attract more customers and grow its market share. A competitive advantage can take three primary forms: Cost advantage–producing a product or providing a service at a lower cost than competitors.
Detailed explanation-3: -Competitive advantage can best be described as: increased efficiency.
Detailed explanation-4: -Competitive advantage is the favorable position an organization seeks in order to be more profitable than its rivals.
Detailed explanation-5: -The four primary methods of gaining a competitive advantage are cost leadership, differentiation, defensive strategies and strategic alliances.