If a Firm's Advantage Is Easily Replicated,both Local and Foreign

question 24

Multiple Choice

If a firm's advantage is easily replicated,both local and foreign competitors will soon apply the same processes and

• A)enter the market to compete
• B)enter into a joint venture with the firm that has the competitive advantage
• C)engage in an advertising campaign to increase its sales and market share
• D)find other less competitive markets to enter and compete

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Definitions:

WestJet

A Canadian airline known for its low-cost options and extensive domestic and international flight services.

Vertical Integration

refers to a company's control over multiple stages of production or distribution within the same industry, from raw materials to final products.

Diamond Mine

A type of mining operation focused on the extraction of diamonds from the earth, often involving large-scale and intensive industrial processes.

Virtual Organizations

Businesses or entities that operate primarily online or through electronic collaboration, without a traditional physical presence.