Examlex
Discuss each of the three competitive advantage strategies (operational excellence, product leadership, customer intimacy) and explain why most firms pursue only one of these strategies.
Technological Advance
Improvements in technology that increase productivity, enhance efficiency, or create new products and markets.
Industrial Concentration
A measure of the extent to which a relatively small number of firms occupy a large market share within an industry.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies if other players keep theirs unchanged.
Game Theory
The study of mathematical models of strategic interaction among rational decision-makers.
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