When a Company Has a Proficiency in Performing a Strategically

question 103

Multiple Choice

When a company has a proficiency in performing a strategically and competitively important value chain activity better than its rivals,it is said to have:

• A) a company competence.
• B) a core competence.
• C) a distinctive competence.
• D) a key value chain proficiency.
• E) a competitive advantage over rivals.

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Definitions:

Elastic Demand

A scenario in which the need for a product or service drastically shifts due to variations in its cost.

Increase Revenue

Increasing revenue refers to actions or strategies aimed at raising the total amount of money generated from sales of goods or services.

Firm

A business organization, such as a corporation or partnership, that sells goods or services in exchange for money.

Cross-Price Elasticity

A measure of how the demand for one good responds to changes in the price of another good.