Firms That Generate Less Economic Value Than Their Rivals Experience

question 47

Multiple Choice

Firms that generate less economic value than their rivals experience a competitive

• A) advantage.
• B) parity.
• C) disadvantage.
• D) perceived benefit.

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Definitions:

Receptive Mind-Set

An attitude or readiness to receive new ideas or information without prejudice.

Time

A constant, quantifiable value through which occurrences are sequenced from the past, through the present, and into the future.

Productivity

The effectiveness of productive effort, typically measured in terms of the rate of output per unit of input.

Efficiency

The ratio of useful output to total input, indicating how well resources are utilized to achieve a goal.