Actions firms take to gain competitive advantages in a single market or industry are known as
A) business level strategies.
B) corporate level strategies.
C) functional level strategies.
D) sustainable strategies.

Question

Quizplus · Accepted Answer

Business level strategies are the actions taken by firms to gain a competitive advantage in a single market or industry. This includes identifying the needs of a specific customer segment, developing unique products or services, implementing cost-cutting measures to offer lower prices, and creating a strong brand image, among others. Corporate level strategies, on the other hand, focus on the overall direction and scope of a firm, while functional level strategies deal with specific functional areas such as marketing or operations. Sustainable strategies address environmental, social, and economic sustainability issues.

Actions Firms Take to Gain Competitive Advantages in a Single