You and your two business partners own and operate All Night, a 24-hour grocery store chain. It is claimed that after the company is launched, many arguments develop as a result of the fact that each partner has his or her own method of conducting business. Please respond to the questions that follow in light of this scenario. 1. Who would you consider to be your most significant competitors? 2.What strategies can you use to acquire a competitive advantage over your competition? 3. Which industry would it fall under? Is it a profitable industry?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Subject: Entrepreneurship

You and your two business partners own and operate All Night, a 24-hour grocery
store chain. It is claimed that after the company is launched, many arguments
develop as a result of the fact that each partner has his or her own method of
conducting business. Please respond to the questions that follow in light of this
scenario.
1. Who would you consider to be your most significant competitors?
2.What strategies can you use to acquire a competitive advantage over your competition?
3. Which industry would it fall under? Is it a profitable industry?
Transcribed Image Text:You and your two business partners own and operate All Night, a 24-hour grocery store chain. It is claimed that after the company is launched, many arguments develop as a result of the fact that each partner has his or her own method of conducting business. Please respond to the questions that follow in light of this scenario. 1. Who would you consider to be your most significant competitors? 2.What strategies can you use to acquire a competitive advantage over your competition? 3. Which industry would it fall under? Is it a profitable industry?
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