In order for a firm to become a more efficient and effective competitor,it can assess its competition.Such a competitive assessment requires a company to engage in:
A) a competitive advantage
B) competitive intelligence
C) industrial espionage
D) an audit
E) a differential competitive advantage

Question

Quizplus · Accepted Answer

Competitive intelligence involves gathering and analyzing information about the competition in order to improve a company's competitiveness. Industrial espionage, which involves stealing trade secrets from competitors, is illegal and unethical. A competitive advantage refers to a unique advantage a company has over its competitors, while a differential competitive advantage is a distinction between products or services. An audit involves analyzing a company's financial and operational performance, but does not necessarily focus on competition.

In Order for a Firm to Become a More Efficient