Explain How Heterogeneous Groups May Be More Productive Than Homogeneous

question 73

Essay

Explain how heterogeneous groups may be more productive than homogeneous groups.

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Definitions:

Sustained Competitive Advantage

An enduring edge over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.

Difficult To Imitate

Referring to a unique characteristic or attribute of a product or service that competitors find hard to replicate.

Supplier Power

The ability of providers of goods or services to influence the terms and conditions of supply, affecting market prices and the competitiveness of buyers.

Entry Barriers

Obstacles that make it difficult to enter a particular market, which can include high startup costs, strict regulations, or strong competition.