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What Are the Two Principal Broad-Based Strategies That Lead to Competitive

question 72

Essay

What are the two principal broad-based strategies that lead to competitive advantages? Briefly explain each.


Definitions:

Kitty Genovese

An American woman whose 1964 murder in New York City became influential in the study of the bystander effect and social psychology.

Prisoner's Dilemma

A scenario in game theory where two individuals acting in their self-interest do not result in the optimal outcome for either party.

Commons Dilemma

A situation where individuals' collective consumption of a shared resource may deplete or destroy it, despite knowing that it is against everyone's long-term interest.

Conformity

The process of aligning one's attitudes, beliefs, and actions with the norms, regulations, or expectations of a group or society.

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