The 'ESC' in the ESC Gap Analysis Process Stands For

question 18

Multiple Choice

The 'ESC' in the ESC gap analysis process stands for:

• A)external strategic capability
• B)environmentally sustainable corporation
• C)exogenously suitably consistent
• D)environment strategy capability

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Definitions:

Tacit Collusion

An unspoken, non-explicit agreement among competitors to avoid competitive practices like price wars, often difficult to detect and regulate.

Price Extortion

Price extortion occurs when a seller significantly increases the price of goods or services to a level much higher than is considered reasonable or fair, often in situations where consumers have limited choices or during emergencies.

Dominant Strategy

In game theory, a strategy that is best for a player in a game regardless of the strategies chosen by the other players.

Pricing Strategy

A plan or method implemented by a company to price its products or services to attract consumers while maximizing profit.