Theories of How to Gain Competitive Advantage in an Industry

question 36

Multiple Choice

Theories of how to gain competitive advantage in an industry that emerge over time or that have been radically reshaped once they are initially implemented are known as

• A) emergent strategies.
• B) objective strategies.
• C) planned strategies.
• D) ad hoc strategies.

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Definitions:

Kits

Assembled sets of components or materials prepared for immediate use or further assembly.

Dependent Demand

A demand for items that occurs as a direct result of demand for other items. It is typically calculated rather than forecasted, such as components or raw materials required for producing a final product.

Quantity Required

The total amount of materials or products needed to fulfill a specific purpose, task, or production requirement.

Reduced Inventory Levels

Refers to the strategy of keeping the stock of goods to a minimum to reduce holding costs and increase efficiency.