Unleash your Competitive Edge
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Questions and Answers

Which of the following best describes a firm's competitive advantage?

  • A firm's implementation of strategies that are difficult for competitors to duplicate (correct)
  • A firm's ability to find strategies that are cheaper to imitate than its competitors
  • A firm's strategy that is permanent and cannot be duplicated
  • A firm's ability to imitate its competitors' strategies

    • What is the key factor in determining if a firm's strategy has resulted in a useful competitive advantage?

  • The firm's confidence in its strategy
  • The speed with which competitors find skills to imitate the firm's strategy (correct)
  • The time it takes for the advantage to last
  • The firm's ability to cease or fail competitors' efforts to duplicate its strategy

    • What are above-average returns in terms of investment?

  • Returns that are higher than expected (correct)
  • Returns that are lower than expected
  • Returns that are similar to other investments
  • Returns that are uncertain

    • How does effectively managing risks impact investors' uncertainty?

    <p>It decreases investors' uncertainty</p> Signup and view all the answers

    How are returns often measured?

    <p>In terms of accounting figures</p> Signup and view all the answers

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