Key Terms Instructions: Please Define the Following Key Terms

question 66

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Third Republic

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Definitions:

Corrective Action

Measures taken to rectify a fault or reduce the likelihood of its recurrence in the future. Often used in the context of quality management and compliance.

Strategic Competitive Advantage

A condition that differentiates a business from its competitors, allowing it to generate greater sales or margins and/or retain more customers.

Speed

Refers to the rate at which an activity or process is carried out or completed.

Competitive Advantage

Competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors.