Maintaining a Competitive Advantage Is Very Important to the Success

question 223

Multiple Choice

Maintaining a competitive advantage is very important to the success of today's businesses.All of the following strategies will help a firm remain competitive,except:

• A)Ignoring competitor movements,including new products and services offered by the competition.
• B)Restructuring internal processes,including the elimination of some jobs.
• C)Spending funds on customer service training for front-line employees.
• D)Adhering to a vision of employee empowerment and striving to exceed customer expectations.

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Definitions:

Cost Data

Information related to the expenses incurred in producing a product or providing a service, including materials, labor, and overhead.

Output Level

The quantity of goods or services produced by a business or economy within a certain period.

Short-Run Equilibrium

The condition in which, in the short term, the quantity of goods supplied equals the quantity of goods demanded at the current price.

Marginal Revenue

The income increment from disposing of an extra unit of a good or service.