ANYTHING THAT A FIRM DOES ESPECIALLY WELL COMPARED TO RIVAL FIRMS...

75) - TEST BANK FOR STRATEGIC MANAGEMENT A COMPETITIVE ADVANTAGE APPROACH 14TH EDITION BY DAVID
TEST BANK FOR STRATEGIC MANAGEMENT A COMPETITIVE ADVANTAGE APPROACH 14TH EDITION BY DAVID
75) Anything that a firm does especially well compared to rival firms is referred to asA) competitive advantage.B) comparative disadvantage.C) opportunity cost.D) unsustainable advantage.E) an external opportunity.Answer: ADiff: 1 Page Ref: 8Objective: 1.03 Define and give examples of key terms in strategic management.Learning Outcome: Define strategic management and identify its basic concepts