According to Michael Porter,to Have a Competitive Advantage a Company

question 101

Multiple Choice

According to Michael Porter,to have a competitive advantage a company must ultimately be able to give customers _______________.

• A) the best possible product
• B) the best customer service
• C) superior value for their money
• D) everything they want

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Definitions:

Planning Budget

A budget prepared in advance of a specific budget period, serving as a financial plan for achieving strategic goals.

Other Expenses

Costs that do not directly relate to the primary business activities, such as interest payments or losses from asset sales.

Service Company

A business that generates revenue through providing intangible products or services, rather than selling physical goods.

Static Budget

A budget that is created for a single level of activity and does not change even when actual levels of activity vary.