A Strategy Maximizes Competitive Advantage and Minimizes Competitive Disadvantage

question 50

True/False

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

---

Definitions:

Business Environment

The combination of external and internal factors that influence a company's operating situation, including economic, legal, technological, and social conditions.

Cost Reduction

The process or strategy of reducing the amount of money required to produce goods or services without compromising on quality, often through efficiencies, economy of scale, or re-negotiation of contracts.

Process Improvement

The proactive task of identifying, analyzing, and improving upon existing business processes within an organization to optimize performance and meet new quotas or standards of quality.

Bonus

A form of supplemental pay given to employees as a reward for their performance or for special occasions.