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Discuss Each of the Three Competitive Advantage Strategies (Operational Excellence

question 16

Essay

Discuss each of the three competitive advantage strategies (operational excellence, product leadership, customer intimacy) and explain why most firms pursue only one of these strategies.


Definitions:

Unique Goods

Items that are distinct in their characteristics, often irreplaceable, and cannot be substituted easily due to their rarity or specific traits.

Breach of Warranty

Occurs when a seller fails to uphold a claim or promise about a product or service.

Discovered the Defect

Discovering the defect involves identifying a flaw or fault in a product or property, usually after a transaction has taken place, impacting the value or safety of the item.

Time of Contract

The specific moment when a contract is considered to have been formed or agreed upon by all parties involved.

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