Test Your Knowledge on Sustainable Strategies for Competitive Advantage

When a firm has a larger workforce than its competitors.

When a firm has a larger market share than its competitors.

When a firm obtains a larger gap between average costs and willingness to pay than its competitors. (correct)

When a firm has more revenue than its competitors.

Having more revenue than its competitors and leveraging elements related to a key factor of success in the market.

Having a larger market share than its competitors and leveraging elements related to a key factor of success in the market.

Having a larger workforce than its competitors and being sustainable in the face of changes in the environment and competitors’ movements.

Leveraging elements related to a key factor of success in the market and being sustainable in the face of changes in the environment and competitors’ movements. (correct)

Sustained C.A, Temporal C.A, Competitive advantage, Short-term disadvantage, Long-term disadvantage.

Sustained C.A, Temporal disadvantage, Competitive parity, Short-term disadvantage, Sustained disadvantage.

Sustained C.A, Temporal C.A, Competitive parity, Temporal disadvantage, Sustained disadvantage. (correct)

Sustained C.A, Temporal C.A, Competitive parity, Short-term disadvantage, Long-term disadvantage.