If a Firm Wants to Develop a Sustainable Competitive Advantage,it

question 21

Multiple Choice

If a firm wants to develop a sustainable competitive advantage,it should

• A) begin an aggressive campaign to buy up competitors.
• B) copy the innovative features of other firms that are attractive to customers.
• C) examine its operations and customer relations to identify significant things competitors cannot easily copy.
• D) increase its marketing budget so that it outspends its competitors.
• E) arrange to meet with competitors to discuss how to avoid direct competition.

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Definitions:

Renovations

The process of improving or modernizing a building, room, or structure to enhance its appearance, functionality, or value.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover the actual loss or injury suffered, as opposed to punitive damages intended to punish the defendant.

Linoleum

A durable, flexible, and environmentally friendly flooring material made from natural ingredients like linseed oil, cork dust, and wood flour.

Specific Performance

A legal remedy requiring a party to fulfill their obligations under a contract, rather than providing a monetary award for breach.