The four building blocks of a competitive advantage are:
A)Efficiency, effectiveness, quality, customer responsiveness
B)Effectiveness, quality, customer responsiveness, innovation
C)Efficiency, quality, customer responsiveness, innovation
D)High performance, quality, efficiency, innovation
E)Effectiveness, customer responsiveness, innovation, efficiency

Question

Quizplus · Accepted Answer

Efficiency, quality, customer responsiveness, and innovation are the four building blocks of a competitive advantage. Efficiency involves minimizing waste and maximizing productivity. Quality refers to the superiority of products or services. Customer responsiveness relates to the ability to meet and exceed customer expectations. Innovation refers to the ability to develop new products, services or processes that create a unique market advantage. Together, these building blocks can help an organization establish a sustainable competitive advantage over its rivals.

The Four Building Blocks of a Competitive Advantage Are