Ways That Companies Can Gain a Value Advantage Include

question 5

Multiple Choice

Ways that companies can gain a value advantage include:

• A) Value-segmenting
• B) Supplier relationship management
• C) Service and support
• D) Lowest cost
• E) a and c g

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Definitions:

Simulation

A method for implementing a model over time to study the behavior of a system or to analyze the implications of a complex process or strategy.

System-1 Thinking

Reactive thinking that relies heavily on situational cues, salient memories, and heuristic thinking to arrive quickly and confidently at judgments.

Analytical

Means that a person is habitually alert to potential problems and vigilant in anticipating consequences and trying to foresee short-term and long-term outcomes of events, decisions, and actions. “Foresightful” is another word for what “analytical” means here.

Deliberative

Involving careful consideration or discussion before making a decision.