Increasingly, Competitive Advantage Results from the Ability to Manage Change

question 85

Multiple Choice

Increasingly, competitive advantage results from the ability to manage change and harness the resources and capabilities consistent with ________ strategies.

• A) dynamic
• B) first- or second-mover
• C) late-mover
• D) revolutionary

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Definitions:

Price Sensitivity

The degree to which the demand for a product or service is affected by changes in its price, illustrating consumer response to price adjustments.

Consumer Surplus

The contrast between what buyers are willing to offer for a good or service and the amount they actually spend.

Willingness to Pay

The maximum amount an individual is prepared to expend on a good or service to acquire it.