A nation's competitiveness depends on the capacity of its industries to <u>innovate and upgrade</u> and thereby maintain its competitive advantage.
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What is competitive advantage?</h3>
- A company's ability to produce goods or services faster, more efficiently, or for less money than its competitors is known as a ccompetitive advantage.
- These elements enable the producing unit to outperform its competitors in terms of sales or margins. Cost structure, branding, the standard of the product offers, the distribution system, intellectual property, and customer service are just a few examples of the variables that are thought to contribute to competitive advantages.
- Comparative and differentiated advantages are two types of competitive advantages.
- A corporation has a comparative advantage if it can create a product more effectively than a competitor, which increases profit margins.
- When a company's products are regarded as both distinctive and of greater quality than those of a competitor, this is known as having a differential advantage.
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Bone scan
A bone scan is a radiographic test
used to view the entire skeletons thereby helping to diagnose problems with the
bones. It safely uses a very small amount of a radioactive drug called a
radiopharmaceutical. It has also been referred to as a dye but it does not
stain the tissue.
Answer:
B) entrepreneur.
Explanation:
An entrepreneur refers to any individual who creates a business model based on innovation. They run the company and take responsibility for its performance. They play an important role in every economy making use of the requisite expertise and effort to identify requirements and bring innovative new concepts to the industry. Entrepreneurs who ultimately succeed in managing the risks of a venture are lauded with continued growth.
