BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Excellent Quality of Product
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Higher Profit
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Lesser innovation
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Bad customer service
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Detailed explanation-1: -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-2: -Four factors help the company to establish and retain competitive advantage, namely superior efficiency, quality, innovation, and accountability to customer. Each of these factors are the result of a distinctive competence of a firm.
Detailed explanation-3: -Internal factors such as human resources, information and production technology, management and financial capabilities, innovation, size of industry, marketing and learning are factors that have a significant impact on the competitiveness of companies.