The Key Result of Achieving a Competitive Advantage Is __________

question 51

Multiple Choice

The key result of achieving a competitive advantage is __________.

• A)An ability to sidestep government regulations.
• B)An ability to consistently do something of high value which one's competitors cannot replicate quickly or do as well.
• C)An ability to drive the competition out of business and to make extraordinarily high profits.
• D)An ability to establish a monopolistic market position.
• E)An ability to dictate consumer needs and preferences.

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Definitions:

Job Analysis Technique

A systematic process used to identify the skills, duties, and knowledge required for a specific job, aiding in recruitment and performance evaluation.

Job Observation

The method of evaluating a job by watching and noting the tasks being performed, often used for training, performance assessment, or job design.

Family-Managed Businesses

Businesses that are owned, controlled, and operated by members of one or several families, often passed down through generations.

Nonfamily Professionals

Individuals who are employed in family-owned businesses but are not members of the owning family, bringing external expertise and perspectives.