What Is Needed to Gain a Competitive Advantage Over Competitors

question 14

Multiple Choice

What is needed to gain a competitive advantage over competitors?

• A) The ability to produce goods and services and sell those at a fixed profit
• B) The ability to produce goods and services and sell those at a small profit
• C) The ability to produce goods or services efficiently and at a reasonable profit
• D) The ability to leverage the internet to sell in a global marketplace
• E) The ability to have a good or service that can be easily duplicated by competitors

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Definitions:

Satisfying Growth

The achievement of growth goals that meet or exceed the expectations of stakeholders, contributing to overall satisfaction with the organization's progress.

ERG Theory

A motivational theory developed by Clayton Alderfer that categorizes human needs into three groups: Existence, Relatedness, and Growth.

Alderfer's ERG Theory

A motivation theory proposing that human needs can be categorized into existence, relatedness, and growth categories.

Need Categories

Different groups or types of basic human requirements, such as physiological, safety, social, esteem, and self-actualization needs.