Which Firms Appear to Do Best Through and After a Recession

question 43

Multiple Choice

Which firms appear to do best through and after a recession?

• A)Those in a monopoly position
• B)Those with the agility to adjust operations quickly and early, with enough strength to invest at the worst point of the recession
• C)Those who drastically downsize, and cut wages
• D)Those with the highest social legitimacy

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Definitions:

Systematic Approach

A methodical plan of action that follows a specific sequence of steps to solve a problem or achieve a goal.

Managing Diversity

The practice of acknowledging, understanding, accepting, and valuing differences among people with respect to age, class, ethnicity, gender, physical and mental ability, race, sexual orientation, spiritual practice, and public assistance status.

Competitive Advantage

A business's unique ability to perform better than its competitors due to superior products, services, or operations.

Strategic Advantage

A benefit that enables an organization to outperform its competitors.