There Are Several Basic Approaches to Competing Successfully and Gaining

question 63

Multiple Choice

There are several basic approaches to competing successfully and gaining a competitive advantage over rivals,such as:

• A) finding effective and efficient ways to strengthen the company's competitive assets and to reduce its competitive liabilities.
• B) delivering more value to its customers than rivals or delivering value more efficiently than rivals (or both).
• C) getting in the best strategic group and establishing a dominating role.
• D) entering into strategic alliances,utilizing mergers or acquisitions to strengthen its market position,outsourcing some in-house activities to outside specialists,and integrating forward or backward.
• E) All of these.

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Definitions:

Fair Value

The estimated market value of an asset or liability, based on current prices in active markets.

Reporting Unit

A component or segment of an organization for which discrete financial information is available and reviewed by the operating segment's management.

Carrying Values

The book value of assets and liabilities as reported on the balance sheet, considering depreciation, amortization, and impairment costs.

Systematic Basis

A methodological approach of allocating costs or revenues over a specified period of time in a consistent and logical manner.