3 Questions
What is competitive advantage?
When a firm obtains a larger gap between average costs and willingness to pay than its competitors.
What are the requirements for a firm to achieve competitive advantage?
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.
What are the different forms of (dis) advantage?
Sustained C.A, Temporal C.A, Competitive parity, Temporal disadvantage, Sustained disadvantage.
"Unlocking Competitive Advantage: Test Your Knowledge on Sustainable Strategies" - This quiz will challenge your understanding of the different elements that a firm can leverage to gain a competitive edge in the market. From key success factors to sustainable strategies, you'll explore various (dis)advantages that can help or hinder a firm's ability to maintain a larger gap between average costs and willingness to pay. Sharpen your knowledge on competitive advantage and take this quiz now!
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