If a Firm's Competitive Advantage Comes from External Change, Then

question 65

Multiple Choice

If a firm's competitive advantage comes from external change, then:

• A)The firm responds better to changing prices, technologies or tastes than its rivals
• B)The firm responds faster to changing prices or tastes than its rivals
• C)The firm has better creative capabilities than its rivals
• D)The firm has a lower cost of capital than its rivals

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Definitions:

Centration

A cognitive limitation in early childhood, where a child focuses only on one aspect of a situation and ignores other relevant aspects.

Animism

The belief that objects, places, and creatures all possess a distinct spiritual essence or soul.

Concrete Operational Stage

A developmental phase in children, identified by Jean Piaget, typically occurring between ages 7 and 12, where children begin to think logically about concrete events.

Cognitive Development

Cognitive development is the process by which individuals acquire and evolve in their thinking abilities, from infancy through adulthood, encompassing reasoning, memory, problem-solving, and decision-making skills.