Competitive ____ Is Something That an Organization Does Extremely Well

question 18

Short Answer

Competitive ____ is something that an organization does extremely well, is difficult to copy, and that gives it an advantage over competitors in the marketplace.

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Definitions:

Cartels

An agreement among competing firms to control prices or exclude entry of a new competitor in a market.

Winning Bidders

The individuals or entities that offer the highest bid in an auction and are subsequently awarded the item or contract.

Winner's Curse

A situation in which the winner of an auction ultimately overpays or incurs a loss because of overly optimistic valuation of the asset bid on.

Optimistic Estimate

A projection or forecast that assumes the most favorable conditions and outcomes for a given situation.