All of the Following Statements About Competitive Advantage Are Accurate

question 44

Multiple Choice

All of the following statements about competitive advantage are accurate EXCEPT:

• A) it is achieved when an organization has created more economic value for its customers than its competitors.
• B) the cost of making the product or service is outweighed by the value which is provided to the customer.
• C) it can result from using state of the art technology and equipment to produce the product or service.
• D) financial resources are the determinate of competitive advantage rather than the alignment of HR practices.
• E) providing excellent customer service can result in a competitive advantage.

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Definitions:

Marketing Plans

Strategic documents that outline a company’s strategy for promoting its products or services to reach targeted customers.

Pricing Objectives

The goals that a company wants to achieve through the pricing of its products or services, which may include maximizing profitability, increasing sales volume, or capturing market share.

Core Values

Fundamental beliefs or guiding principles that shape an individual's or organization's decisions, actions, and behaviors.

Profit Equation

A financial formula used to calculate a company's profits, typically represented as Total Revenues minus Total Expenses.