Competitive Advantage and Technology Are Linked by

question 34

Multiple Choice

Competitive advantage and technology are linked by

• A)innovation.
• B)corporate culture.
• C)invention.
• D)organizational culture.

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Definitions:

Tacit Collusion

An unspoken, informal agreement among competitors to avoid certain competitive practices, like price wars, to keep prices at a certain level or to divide markets.

Oligopolistic Firms

Companies that operate in an oligopoly, a market structure with a small number of firms that have significant market power, which influences their pricing and production decisions.

Product Differentiation

The approach of identifying unique aspects of a product or service to boost its attractiveness to a designated target market.

Market Power

The ability of a firm to influence or control the terms and conditions of the market to some degree.