Before a New Businessperson Can Develop a Competitive Edge, It

question 35

Multiple Choice

Before a new businessperson can develop a competitive edge, it must determine its own uniqueness by evaluating ______.

• A) the competition
• B) start-up costs
• C) its market
• D) assets

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Definitions:

Differentiation

The process of distinguishing or becoming distinct, often used in development, biology, and psychology to denote specialization.

Behavioral Traits

Characteristics of an individual's actions and behaviors that are often consistent over time, such as habits, temperament, and reaction patterns.

Individualism

A social and political philosophy that emphasizes the moral worth of the individual and the importance of personal independence and freedom.

Collectivism

A cultural value or social outlook that emphasizes the good of the community, group, or society over the individual.