Determine

question 225

Essay

Determine:

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Definitions:

Competitive Advantage

Competitive advantage occurs when a business possesses a unique feature, capability, or position that allows it to outperform competitors.

Survival

The ability of a person, organization, or entity to continue to exist or operate despite facing obstacles or adversity.

Mistakes

Actions or judgments that are wrong or incorrect, often leading to undesirable outcomes, but can serve as valuable learning experiences.

Strategic Planning

A long-term vision and roadmap for an organization, laying out goals and actions to achieve competitive advantage and fulfill its mission.