How Does Value Innovation Achieve Sustained Competitive Advantage for the Innovating

question 41

Multiple Choice

How does value innovation achieve sustained competitive advantage for the innovating company?

• A)It shifts the basis of competition.
• B)It can catch rivals off guard and make it difficult for them to catch up.
• C)It forces the innovative company to think differently than rivals in order to create an offering and strategic position that is unique.
• D)Rivals are unable to change focus from prior strategic commitments.
• E)All of these are reasons why value innovation can achieve sustained competitive advantage for an innovating company.

Interpret the Herfindahl-Hirschman and concentration ratios as measures of market concentration and competition.

Differentiate between various forms of market structures, including perfect competition, monopolistic competition, oligopolyly, and monopoly based on specific characteristics and behaviors.

Apply the concept of game theory to strategic interactions among firms in an oligopolistic market.

Identify the effects of price leadership, cartels, and collusion on market dynamics and consumer welfare.

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Definitions:

Supply Blood

The process of providing nutrients and oxygen to tissues through the circulatory system.

Limbic System

The limbic system is a complex system of nerves and networks in the brain, involved in emotions such as fear and pleasure.

Neural Connections

Neural connections, known as synapses, are the points at which neurons communicate with each other through neurotransmitters.

Diencephalon

The diencephalon is a division of the brain located between the cerebrum and the midbrain, comprising structures such as the thalamus and hypothalamus, involved in sensory and neural function.