The Key to Maintaining Competitive Advantage, According to Dr

question 66

Multiple Choice

The key to maintaining competitive advantage, according to Dr. W.E. Deming is:

• A)being committed to constant improvement.
• B)being first to market with all products.
• C)outsourcing key components.
• D)challenging all market leaders.
• E)stressing low-price advantage in all areas.

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Definitions:

Economic Goals

Targets or objectives related to the financial health and economic policies of a nation, organization, or individual.

Labor Unions

Organizations that represent the collective interests of workers in negotiations with employers over wages, benefits, workplace safety, and other employment terms.

Entrepreneurship

The activity of setting up a business or businesses, taking on financial risks in the hope of profit.

Hybrid Social Venture

An enterprise that combines aspects of non-profit and for-profit models aiming to address social issues while generating revenue.