WPC 480 Final Exam Questions with 100% Correct Answers | Latest Version 2024 | Verified

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WPC 480 Final Exam Questions with 100% Correct Answers | Latest Version 2024 | Verified What is strategy? - ✔✔An integrated set of goal-directed actions a firm takes to gain and sustain compet... itive advantage. What are the 2 business analysis? - ✔✔Internal and External. What are the 3 business strategies? - ✔✔1) Cost, 2) Differentiation, 3) Innovation. What is competitive advantage? - ✔✔Superior performance relative to other competitors in the same industry or the industry average. How do you assess competitive advantage? - ✔✔Compare firm performance to a benchmark. What is sustainable competitive advantage? - ✔✔Outperforming competitors or the industry average over a prolonged period of time. What is competitive disadvantage? - ✔✔Underperformance relative to other competitors in the same industry or the industry average. What is competitive parity? - ✔✔A performance of two or more firms at the same level. What is the key to successful strategy and gain competitive advantages? - ✔✔Combine activities for a unique position in an industry. Where does competitive advantage come from? - ✔✔1) Performing different activities, or 2) Performing the same activities differently than rivals [Show More]

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