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2 years ago

The fundamental relationship between economic value creation and competitive advantage is?

1 answer:

soldier1979 [14.2K]2 years ago

3 0

The fundamental relationship of economic value creation to competitive advantage is that an increase in one will leads to another. Due to that, we can say that other competitors’ economic value creation will decrease. These changes will lead to a relative shift in cost structure and a shift in consumers’ behavior to pay more.

Competitive markets deal with homogenous products and with too many producers and due to that no one producer can create a monopoly. As in monopoly, the market deals with non-homogenous products with single or few producers.

Further descriptions are below here about the relationship between value creation and competitive advantages:

Fundamental in strategic management
Provides the foundation upon which to formulate a firm's competitive strategy for cost leadership or differentiation
A firm has a competitive advantage when it creates more economic value than rival firms.

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Stones Corporation uses a predetermined overhead rate based on machine-hours to apply overhead to the manufacturing process. Las

likoan [24]

Answer: $5 per machine hour

Explanation:

Given the following :

Estimated manufacturing overhead cost = $550,000

Expected machine-hour to be incurred = 110,000

Actual manufacturing overhead = $575,000

Actual machine hour incurred = 120,000

The manufacturing overhead application rate:

Expected manufacturing overhead cost / Expected machine hour to be incurred

= $550,000 / 110,000 machine hour

= $5 per machine hour

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3 years ago

Building a new mall what will be the input, the conversion, and the output

myrzilka [38]

In building a new mall,

The input would be : Labor, All materials needed in building a mall

Conversion : Building process

Output : The actual mall itself

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3 years ago

Your reference price will become more accurate and reflect real prices whena.) you have consulted your friends, family and colle

11Alexandr11 [23.1K]

Answer:

The correct answer is letter "D": you have experience related to the product.

Explanation:

The reference price is the price buyers are willing to pay for a given good or service based on different features of the product such as quality, availability and the type of need it satisfies compared to what competitors can offer.

<em>The real price of the product is considered adding the value individuals can provide to the good or service based on the interaction they have had with similar items</em>. Quality information might influence the reference price to be set.

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3 years ago

Which of the following provides a suite of integrated software modules for finance and accounting, human resources, manufacturin

IrinaVladis [17]

Answer:

b) ERP

Explanation:

Enterprise Resource Planning is a business management software that allows an organization to use a system of integrated applications to manage the business and automate many office functions related to technology. A typical example of an ERP is SAP ERP.

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4 years ago

If you place a part of your summer earnings in a savings account, you are using money primarily as a

Flauer [41]

You are using money primarily as a : Store of value

Money as a store of value is something that maintains its worth both in the present and in the future, with money being one such commodity in modern.

When money is a store of value, it means that it is capable of being held such that it can increase our wealth and net worth. This is why it can be saved and used as a means of capital.

Other characteristics of money includes :

Medium of exchange
Unit of account
Standard of value

Hence, you are using money primarily as a store of value if you place a part of your summer earnings in a savings account.

Learn more about functions of money here : brainly.com/question/25959268

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2 years ago