Question

If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally a. execute an integrated cost-leadership and differentiation position. b. provide goods or services similar to its competitors at higher prices. c. stake out a unique position within the industry. d. copy the strategies of other firms through competitive benchmarking.

Answer 1

If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally stake out a unique position within the industry, which is achieved through creating value for stakeholders.

How a company creates value

The value in companies is related to a series of integrated factors that lead a company to be well positioned in the market, such as quality, service, satisfaction of consumer needs and desires and social responsibility.

Therefore, it is essential that a company's strategy is focused on generating value both in the micro and in its macro environment, in order to be better positioned and competitive in the market.

The correct alternative is:

c. stake out a unique position within the industry.

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