To Build a Competitive Advantage by Out-Managing Rivals in Performing

question 46

Multiple Choice

To build a competitive advantage by out-managing rivals in performing value chain activities, a company must

• A)position itself in the industry's more favorably situated strategic group.
• B)develop resource strengths that will enable it to pursue the industry's most attractive opportunities.
• C)develop core competencies and maybe a distinctive competence that rivals don't have or can't quite match and that are instrumental in helping it deliver attractive value to customers.
• D)outsource all of its value chain activities to world-class vendors and suppliers.
• E)eliminate its resource weaknesses.

Describe the process and utility of factor analysis in personality psychology.

Understand the concept and application of the Big Five personality traits.

Understand the legal characteristics and treatment of fixtures and trade fixtures in property law.

Analyze the principles of insurance claims and how distribution of payment works among multiple insurers.

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Definitions:

Modelling

A learning method where individuals ascertain how to act or perform by observing another individual.

Behavioural Rehearsal

A therapeutic technique involving the practice of desired behaviors in a safe setting to improve real-world application, often used in social skills training.

Aversion Therapy

A type of behavioral therapy that involves pairing unwanted behaviors with unpleasant stimuli to reduce the occurrence of those behaviors.

Problem Drinker

An individual who experiences social, emotional, or physical problems as a result of alcohol consumption.