A competitive advantage:
A) can be permanent if the firm has successfully implemented the strategic management process.
B) entails reducing investors' risk to near zero.
C) can be identified when competitors are unable to duplicate or find it too costly to try to imitate.
D) exists when competing firms are unable to find investors.

Question

Quizplus · Accepted Answer

A competitive advantage is an attribute or feature that is unique to a firm or a product and sets it apart from its competitors. It can be identified when competitors are unable to duplicate it, or find it too costly to try to imitate. A competitive advantage can be sustained over time if the firm has successfully implemented the strategic management process. Reducing investors' risk to near zero and the inability of competitors to find investors are not related to competitive advantage.

A Competitive Advantage