Actions That Firms Take to Gain Competitive Advantage in a Single

question 58

Multiple Choice

Actions that firms take to gain competitive advantage in a single market or industry are known as

• A) business-level strategies.
• B) corporate-level strategies.
• C) functional-level strategies.
• D) macro-level strategies.

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Definitions:

Financial Difficulties

A situation in which an individual or organization struggles to manage their monetary obligations, potentially leading to insolvency or bankruptcy.

RUPA

An acronym for the Revised Uniform Partnership Act, which is a statutory law that governs the formation, operation, and dissolution of partnerships in the United States.

Continuity of Existence

A characteristic of certain business entities that ensures their existence persists regardless of changes in ownership or membership.

Mining Partnership

A specialized form of association where two or more persons collaborate in the development and operation of a mine, sharing profits and losses proportionally to their contributions.