The Identification by a Firm of Its Sources of Competitive

question 41

Multiple Choice

The identification by a firm of its sources of competitive advantage is critical because:

• A)A firm can reduce its costs
• B)A firm can organize its activities differently
• C)A firm can increase its profitability
• D)To continue successfully it is essential that a firm understands why it wins profitable business.

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Definitions:

Education Importance

The significance attributed to acquiring knowledge and learning skills, seen as key to individual development, social progress, and economic growth.

Leisure Time

Free time that an individual can spend away from work, chores, and other obligations, often engaging in recreational activities.

Ascribed Status

A social position assigned at birth or involuntarily later in life, not based on achievements or abilities.

Individual's Control

The power or influence a person has over their own decisions and actions in various aspects of life, including personal, social, and professional domains.