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Which among the following best describes the process of gaining competitive advantage in a firm?
  • a)
    Strengths → Weaknesses → Distinctive Competencies → Competitive Advantage
  • b)
    Weaknesses → Strengths → Distinctive Advantages → Competitive Advantages
  • c)
    Weaknesses → Strengths → Distinctive Competencies → Competitive Advantages
  • d)
    Distinctive Competencies → Weaknesses → Strengths → Competitive Advantages
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which among the following best describes the process of gaining compet...
When a firm sustains profits that exceed the average for its industry; the firm is said to possess a competitive advantage over its rivals. The goal of business strategy is to achieve a sustainable competitive advantage.
Michael Porter identified two basic types of competitive advantage:
  • Cost advantage
  • Differentiation advantage
Following steps describe the process of gaining competitive advantage in a firm:
Strengths → Weaknesses → Distinctive Competencies → Competitive Advantage
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Community Answer
Which among the following best describes the process of gaining compet...
B) Differentiation
c) Cost leadership
d) Market segmentation
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Which among the following best describes the process of gaining competitive advantage in a firm?a)Strengths→ Weaknesses→ Distinctive Competencies→ Competitive Advantageb)Weaknesses→ Strengths→ Distinctive Advantages → Competitive Advantagesc)Weaknesses → Strengths → Distinctive Competencies→ Competitive Advantagesd)Distinctive Competencies→ Weaknesses → Strengths → Competitive AdvantagesCorrect answer is option 'A'. Can you explain this answer?
Question Description
Which among the following best describes the process of gaining competitive advantage in a firm?a)Strengths→ Weaknesses→ Distinctive Competencies→ Competitive Advantageb)Weaknesses→ Strengths→ Distinctive Advantages → Competitive Advantagesc)Weaknesses → Strengths → Distinctive Competencies→ Competitive Advantagesd)Distinctive Competencies→ Weaknesses → Strengths → Competitive AdvantagesCorrect answer is option 'A'. Can you explain this answer? for UGC NET 2024 is part of UGC NET preparation. The Question and answers have been prepared according to the UGC NET exam syllabus. Information about Which among the following best describes the process of gaining competitive advantage in a firm?a)Strengths→ Weaknesses→ Distinctive Competencies→ Competitive Advantageb)Weaknesses→ Strengths→ Distinctive Advantages → Competitive Advantagesc)Weaknesses → Strengths → Distinctive Competencies→ Competitive Advantagesd)Distinctive Competencies→ Weaknesses → Strengths → Competitive AdvantagesCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UGC NET 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which among the following best describes the process of gaining competitive advantage in a firm?a)Strengths→ Weaknesses→ Distinctive Competencies→ Competitive Advantageb)Weaknesses→ Strengths→ Distinctive Advantages → Competitive Advantagesc)Weaknesses → Strengths → Distinctive Competencies→ Competitive Advantagesd)Distinctive Competencies→ Weaknesses → Strengths → Competitive AdvantagesCorrect answer is option 'A'. Can you explain this answer?.
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