What Is One of the Challenges of Measuring Competitive Advantage

question 94

Multiple Choice

What is one of the challenges of measuring competitive advantage using the economic value creation approach?

• A) The value placed on a product or service by the consumer changes according to income and preferences.
• B) It is difficult to measure the economic value created for all products and services across the organization.
• C) It is challenging to determine the value of a product or service from a customer's perspective.
• D) All of these.

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Definitions:

Social Institutions

Structures or mechanisms of social order and cooperation governing the behavior of a set of individuals within a given community.

Moral Standards

Principles concerning the distinction between right and wrong or good and bad behavior.

Tech IQ

The ability to use technology and to stay updated as technology continues to evolve.

Technological Developments

Refers to the advancements and innovations in technology that lead to new products, processes, or methods in various industries.