While There Are Many Routes to Competitive Advantage,they All Involve

question 11

Multiple Choice

While there are many routes to competitive advantage,they all involve

• A)building a brand name image that buyers trust.
• B)delivering superior value to a broad or narrow market of buyers in ways rivals cannot readily match.
• C)achieving lower costs than rivals and becoming the industry's sales and market share leader.
• D)finding effective and efficient ways to strengthen the company's competitive assets and to reduce its competitive liabilities.
• E)getting in the best strategic group and dominating it.

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Definitions:

Attained Standards

Benchmarks or levels of performance that have been successfully achieved or realized.

Variances

The difference between expected and actual performance, used in accounting and finance to track deviations from budgets.

Problem Areas

Specific challenges or issues within a business or system that require attention and resolution for improved performance or outcomes.

Corrective Action

Measures taken to identify, eliminate, and prevent recurrence of defects or problems in a product, process, or system.