The Key to Maintaining Competitive Advantage and Earning Above-Average Returns

question 49

Multiple Choice

The key to maintaining competitive advantage and earning above-average returns over the long run is to effectively manage current core competencies

• A) in a way that uniquely bundles and leverages the firm's existing resources.
• B) and develop a continuous stream of new competitive advantages.
• C) and imitate the core competencies of successful competitors.
• D) in order to preserve and enhance them against the firm's competitors.

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Definitions:

Product Reliability

The likelihood that a product will perform its intended function without failure for a specified period under certain conditions.

Product Life Cycle

The stages a product goes through from introduction to the market, through growth and maturity, and ultimately into decline.

Growth Stage

A phase in a business or product life cycle characterized by rapid revenue and customer base expansion, often requiring increased marketing and production to meet demand.

OM Strategies

Approaches and methods applied in operations management to ensure efficient and effective production and business operations.