A Competitive Advantage Refers to

question 195

Multiple Choice

A competitive advantage refers to

• A) the cluster of benefits that an organization promises customers to satisfy their needs.
• B) those characteristics of a product that make it superior to competitive substitutes.
• C) a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
• D) actions taken by a firm with the sole intent of putting a competitor out of business.
• E) the added value given to a product beyond the functional benefits provided.

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Definitions:

Balancing Selection

Describes the type of selection that favors more than one allele. This process acts to maintain genetic diversity in a population by keeping alleles at frequencies higher than would be expected by chance or mutation alone.

Frequency-Dependent Selection

A selection process where the fitness of a phenotype depends on its frequency relative to other phenotypes in a given population.

Inbreeding

The breeding of closely related individuals, increasing the chance of offspring inheriting genetic recessive traits.

Genetic Structure

Genetic structure refers to the distribution of genetic variation within and between populations, often shaped by processes like migration, selection, and genetic drift.