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A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.
Which of the following statements is best supported by the passage above?
  • a)
    For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.
  • b)
    No two companies producing the same products or services can survive in a marketplace in the long run.
  • c)
    A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.
  • d)
    If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.
  • e)
    In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.
Correct answer is option 'C'. Can you explain this answer?
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A company cannot survive for long without at least one competitive adv...
A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.
Which of the following statements is best supported by the passage above?
Argument Analysis
 
Pre-Thinking
Conclusion Clarification
N/ A
Pre-Thinking Approach
In order to see which statement can be best supported by the passage, we would need to observe all the facts given in the argument and see if the information in the passage is true, what must also be true.
Inferences: – From the information given in the passage, we can infer the following:
  • Ref. fact 1 and 2 in the logical structure
    • Inference – The competitors’ imitation of the competitive advantage(s) of a company is a threat to the long-term survival of the company.
  • Ref fact 1, 2 and 3 in the logical structure
    • Inference – If a company wants to survive in the long run, then it needs to focus on replacing the lost competitive advantages with new ones.
With this understanding in mind, let’s take a look at the option statements.
 
Answer Choices
A
For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.
Incorrect - No information given
This statement says that for survival, apart from having one or more competitive advantages, a company must imitate competitive advantages of all its competitors. However, the passage does not give us any information for this extra condition.
B
No two companies producing the same products or services can survive in a marketplace in the long run.
Incorrect - No information given
This option ignores the fact that it is possible for 2 companies to produce the same products / services and still survive as long as each company continuously maintains at least one competitive advantage over the other.
C
A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.
Correct
This option is written along the lines of our pre-thinking combination of linkage 1 & 2. It is a combination of the three pieces of information given to us in the passage.
D
If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.
Incorrect - No information given
Even if the 2 companies imitate each other’s competitive advantages, as long as they are able to replace their own lost advantages with new competitive advantages, they can survive in the long run.
E
In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.
Incorrect - No information given
The passage just says that it has become easier for companies to imitate competitive advantages. The passage does not attempt to predict anything about the feasibility of imitating the advantages in the future.
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A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. Can you explain this answer?
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A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. Can you explain this answer?.
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Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. 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Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice A company cannot survive for long without at least one competitive advantage over the rest of the companies in the industry. With the latest technological developments, a company’s competitors can imitate its competitive advantage more easily than before. Besides, in this hyper-competitive world, building more than one competitive advantage is also not always possible.Which of the following statements is best supported by the passage above?a)For a company to survive in the long run, it needs to imitate the competitive advantage of all of its competitors, in addition to maintaining at least one competitive advantage.b)No two companies producing the same products or services can survive in a marketplace in the long run.c)A company needs to regularly replace existing competitive advantages with new competitive advantages in order to survive in the long run.d)If two companies in an industry try to imitate each other’s competitive advantages, then both the companies will not be able to survive in the long run.e)In the future, it is highly unlikely that imitating the competitive advantage of competitors will become difficult.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice GMAT tests.
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