The first step to gain and sustain a competitive advantage is to Select one: A. develop functional and business-level strategies. B. put the guiding policies of a firm into practice. C. understand the strategies of the competitors. D. define a firm's vision, mission, and values.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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The first step to gain and sustain a competitive advantage is to
Select one:
A. develop functional and business-level strategies.
B. put the guiding policies of a firm into practice.
C. understand the strategies of the competitors.
D. define a firm's vision, mission, and values.
Transcribed Image Text:The first step to gain and sustain a competitive advantage is to Select one: A. develop functional and business-level strategies. B. put the guiding policies of a firm into practice. C. understand the strategies of the competitors. D. define a firm's vision, mission, and values.
In developed economies, the electric car industry is in the introduction stage, and the industry for MP3 players is in the shakeout phase.
What does this imply?
Select one:
A. The industry for electric cars will primarily pursue an integration strategy, whereas in the MP3 players industry, the focus will be or
differentiation.
B. The electric car industry will move to the growth stage, whereas the industry for MP3 players will enter the growth stage next.
C. The mode of competition in the electric car industry will be based on price, whereas in the MP3 player industry, the mode of
competition will be non-price based.
D. The industry for electric cars will focus more on product innovation, whereas in the MP3 player industry, the focus will be on
process innovation.
Transcribed Image Text:In developed economies, the electric car industry is in the introduction stage, and the industry for MP3 players is in the shakeout phase. What does this imply? Select one: A. The industry for electric cars will primarily pursue an integration strategy, whereas in the MP3 players industry, the focus will be or differentiation. B. The electric car industry will move to the growth stage, whereas the industry for MP3 players will enter the growth stage next. C. The mode of competition in the electric car industry will be based on price, whereas in the MP3 player industry, the mode of competition will be non-price based. D. The industry for electric cars will focus more on product innovation, whereas in the MP3 player industry, the focus will be on process innovation.
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