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:

Economic Growth

Increase in a country's output of goods and services over time, often measured by GDP growth, indicating improved economic health and living standards.

Living Standards

The level of wealth, comfort, material goods, and necessities available to a person, group, or society.

Economic Rationality

The assumption that individuals make decisions based on the best possible benefit to themselves, considering available information and costs.

Unpaid Volunteer Work

Labor that individuals provide without financial compensation for the benefit of their community or society.