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pantera1 [17]
3 years ago
10

What is competitive advantage and how does it relate to a company’s business mode?

Business
1 answer:
elena-s [515]3 years ago
5 0

Answer:

Competitive advantage is an economic category, which means that an economic entity has unique characteristics that distinguish this economic entity from other similar entities in the market.

Explanation:

Competitive advantage is an economic category, which means that an economic entity has unique characteristics that distinguish this economic entity from other similar entities in the market.  Competitive advantages and disadvantages are identified in the process of comparing the elements of activity of market participants with elements of the activities of rivals. So, for example, you can determine whether a business idea is better or worse, the name of the created or acquired company, the composition of the personnel, management and top management of the company, business models, tools and objects of work used in business, business communication.

Each enterprise enters the market with the aim of achieving its goals and objectives, maintaining or protecting its market share. However, because there are so many competitors in the free and competitive markets that can meet the same consumer demand, they may prevent the enterprise from achieving this goal. To be able to cope with or prevent them from attacking, an enterprise must develop its own competition policy and competitive strategy, ie the concept of using its resources to prevent and resist competitors' actions against it and its goals. The prerequisite for success in free and competitive markets is that there are many consumers (or buyers) who perceive products or products offered by the enterprise as superior products over similar products of their competitors due to their parameters (quality, technical, operational, economic, etc.). To achieve this, every enterprise should strive to outstrip or outpace its competitors in competition. Understanding the need for competition and its discussion leads to a critical approach to the consumer-oriented marketing concept that the purpose of marketing is to meet the needs of consumers. Thus, when a consumer orientation is viewed as a means of ensuring that the enterprise's products meet the consumer's expectations and expectations, it does not mean the need to outpace or outpace competitors. Because consumer expectations are, to a large extent, dependent on what competitors offer them. It is also wrong to change the consumer orientation of marketing to competitors. Because being an enterprise leader in competition means better than its competitors, it also means better understanding of consumer needs. An attempt to organize a business more efficiently by shifting focus from consumer to competition can lead to certain advantages over competitors. These advantages will be in addition to the advantages revealed by the consumer's orientation, which will be either undesirable or less desirable. In fact, the enterprise does not need to outpace its competitors in all its supply parameters. He needs to overcome his competitors in settings that are of importance to the consumer. What parameter is more important and important to the consumer can be determined by the consumer orientation. The emphasis on competition, rather than on consumers' needs, is the result of its overstatement. Therefore, the enterprise must continuously monitor the competition and at the same time not overlook the consumer's needs. The competitive research process results in the development of a competitive strategy. The development of a competitive strategy involves four stages:

1) defining the characteristics of competition;

2) collecting and analyzing competitors' information;

3) identification of possible variants of competitive strategies; and

4) selection of a competitive strategy or strategy.

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Jonah tells his friend Derek that he would like to go parasailing. Derek is very enthusiastic and suggests that they try an outf
nekit [7.7K]

Answer:

- Derek is an agent of Jonah

- Derek failed in his fiduciary duties to his principal

Explanation:

An a agent is someone that is appointed by a principal to take care of their interests. The agent's loyalty is to only his principal and he should not manipulate the relationship for personal gain.

In the given scenario Jonah appointed Derek to arrange for parasailing activity. So he is an agent to Jonah in this respect.

However Derek chooses an outfit called Wind Beneath My Wings where he is an owner, he put aside $600 instead of $350 for the reservation, and the company is unlicensed.

All these are violations of Derek's fiduciary duty. He put Jonah at risk for his own personal gain.

8 0
3 years ago
On january 2, 20x3, kean company purchased a 30 percent interest in pod company for $250,000. Pod reported net income of $100,00
Annette [7]

Answer:$277,000 should be reported by Kean.

Explanation:

Amount of investment Kean should report = Original cost of investment + share of net income of investors -share of investors dividend.

But ,

share of net income of investors = 30% of net income reported by Pod

= 30 % x $100,000= $30,000

share of investors dividend=  30% of dividend declared by Pod company

= 30 % x 10,000 = $3000

Therefore,

Amount of investment Kean should report = $250,000 + $30,000 - $3,000

=$277,000

7 0
3 years ago
Which of the following is not a payroll tax deduction?
Wittaler [7]

Answer:

The Correct Answer is B.

Sales tax.

Explanation:

Sales tax is the Tax imposed by the government body during the sale of the goods and services at a retail level.

While payroll tax is the tax which is imposed on the salary of the employees and this tax is imposed by the employer. payroll taxes are directly deducted from the salaries of the employees and directly paid to the internal revenue services by the employer.

8 0
3 years ago
Transferable skills necessary for successful employment include
harkovskaia [24]

Answer:

Answer is option d i.e. all of the above.

Explanation:

Transferable skills are the skills or qualities that an individual has acquired through their learning processes in school, colleges, and life. These skills are those qualities that help an individual to land a successful job. Therefore, all three skills mentioned, which are basic skills, thinking skills, and personal qualities; above are included in transferable skills. Hence, the answer is option d.

8 0
3 years ago
Read 2 more answers
Suppose Bev's Bags makes two kinds of handbags—large and small. Bev rents an industrial space where she keeps the fabric, the in
Oksanka [162]

Answer:

c. All are correct.

Explanation:

Variable costs depend on the number of units produced, if production drops to zero, all associated variable costs also drop to zero; options b and d are correct.

Fixed cost remain the same with changes in the production volume. Therefore, even if Bev's Bags produced no bags, fixed cost of thread would stay the same; option a is correct.

Therefore, all are correct.

8 0
3 years ago
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