Identify a True Statement About Competitive Advantage

question 38

Multiple Choice

Identify a true statement about competitive advantage.

• A)Successful businesses generally have only one source of competitive advantage.
• B)Businesses must develop an effective mission statement before developing a list of what might constitute its competitive advantage.
• C)An effective mission statement and sustainable advantage are mutually independent of each other.
• D)The predominant approach used by strategists to gain competitive advantage is the resource-based perspective.

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Definitions:

Defined-benefit Plan

A type of pension plan in which an employer promises a specified pension payment in retirement that is predetermined by a formula based on the employee's earnings history, tenure of service, and age.

Defined-contribution Plan

Defined-contribution Plan is a retirement savings plan where the amount contributed by the employer or employee is specified, but the future benefit amount is not guaranteed.

Contributory Plan

A pension plan in which contributions are made jointly by employees and employers

Registered Retirement Savings Plan

A retirement savings and investing tool for employees and the self-employed in Canada, offering tax benefits.