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Inessa [10]
1 year ago
10

Michael porter says that companies gain a competitive advantage by giving customers __________.

Business
1 answer:
Delicious77 [7]1 year ago
8 0

That companies gain a competitive advantage by giving customers focus, cost leadership, and differentiation

<h3>What is competitive advantage?</h3>

A firm seeks a competitive advantage when it aims to surpass its rivals in terms of profitability. An organization must be able to communicate to its chosen target market that it has a higher comparative or differential value than its rivals in order to establish and retain a competitive advantage. For instance, a business is likely to have a competitive advantage if it advertises a product at a lower price than a similar product from a rival. The same holds true if the marketed item is more expensive but has special characteristics that buyers are ready to pay for.

The SWOT (Strengths, Weaknesses, Opportunities, and Threats) analytical technique is credited to Albert Humphrey at the Stanford Research Institute. Porter's Five Forces is an alternative model that helps businesses understand their position within a competitive landscape.

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Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He
rusak2 [61]

Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate Owen employs few workers and is not expected to earn profit for the first few years. Although, he still hopes to expand his outlet. In this case, a sole proprietorship is the best option because it is easier and cheaper to start a company. The business owner is free to make all decisions without any consultations. The sole proprietorship earns moderate profits and does not require huge funds in the near future. Owen employs only Quinn and Ruth to run the pet store, which means that it is a comparatively small outlet and does not require huge funds for its financing. Owen will enjoy one more advantage of paying a single tax. This means that the owner (Owen) is required to pay tax either on profits or personal income. This is because, in this organization, the owner and the business are the same entity. The earnings from the business are the personal income of the owner.

<h3>What is business organization?</h3>

The word "business organization" refers to the organizational structure of businesses and how such structure aids in achieving their objectives. Businesses are often built to concentrate on either making a profit or helping society. A company is considered a for-profit entity when it prioritizes making money. An organization is referred to as a nonprofit (or not-for-profit) organization and is not often called a business when it aims to further the social good through the arts, education, health care, or some other sector.

To learn more about business organization from the given link:

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5 0
2 years ago
How much would a mansion cost in the 1800s
zubka84 [21]
1856 $500 1869 $3,000
3 0
3 years ago
Which type of shopping is characterized by activities oriented toward a specific, intended purchase or purchases?
IrinaVladis [17]

The type of shopping that is being identified above is acquisitional shopping because this is where consumers have the intention of visiting or going to the store to shop in a way that they would purchase products and acquire for services. It could be seen above as the shopping is characterized because of the consumers will of having to purchase a specific product.

5 0
3 years ago
John Smith, one of three managers at BSG Labs, drafted a policy that would allow his department to do more testing in his lab. T
jok3333 [9.3K]

Answer:

b. The policy made decisions for other departments in the company.

Explanation:

John Smith made the policy alone without involving the other managers. When the policy was implemented, it had to work with other departments to ensure success.

As there are 3 managers and 3 departments at BSG Labs, John Smith should have formulated the new policy with the other managers, so that issues such as scheduling and coordination between bthe various departments will run smoothly.

3 0
3 years ago
Brian had the following items of income this year. • Salary - $22,000 • Child support received - $6,000 • Alimony received - $10
SashulF [63]

Answer:

$82000

Explanation:

Gross income is defined as the total sum of money received (salary, wages, rents, interests and other form of earnings) that an individual or a household receive before any deductions or taxes. Hence,

Given that

Salary = 22000

Alimony = 10000

Punitive damage = 50000

Gross income = 22000 + 10000 + 50000

= $82000

The child support and compensatory damages are not added because they are not taxable.

4 0
3 years ago
Read 2 more answers
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