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:

Cost Overrun

Occurs when the actual cost of a project exceeds the originally budgeted or estimated cost.

Irish Shamrock Model

A conceptual framework proposed by Charles Handy that describes an organization structure divided into three parts: core staff, contractual fringe, and flexible labor force.

Core Workers

Essential employees who are critical to the foundational operations and success of a business.

Contract Workers

Individuals who are employed on a contract basis for a specific period or project, lacking some of the benefits and protections afforded to permanent employees.