BUISENESS MANAGEMENT
BUSINESS PLANNING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following would not lead to a competitive advantage?
|
|
If a business decided to open a new store in another area
|
|
|
If a business was able to lobby the government to limit foreign competition
|
|
|
If a business developed a product that was of superior quality than their competitors
|
|
|
If a business moved their manufacturing plant overseas to take advantage of lower labour costs
|
Explanation:
Detailed explanation-1: -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-2: -Waste is not a competitive advantage.
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: -There are three main types of sustainable competitive advantage: differentiation, cost leadership, and focus advantage.
There is 1 question to complete.