To Achieve Competitive Advantage, Companies Should Develop Strategies That

question 120

Multiple Choice

To achieve competitive advantage, companies should develop strategies that:

• A) target specific customers.
• B) sprovide synergy.
• C) focus on core competencies.
• D) create value.
• E) all of these.

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Definitions:

Variable Input

An input in the production process that can be adjusted in the short term to change the level of output.

Industry Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output of that good by all firms in the industry.

Marginal Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good varies as production volume changes.

Raw Materials

The basic materials from which products are manufactured or made.