A company's strategy is unlikely to succeed unless:

a. the company has competencies and capabilities to efficiently sustain its competitive differentiation.

b. includes a permanent, unchangeable mission statement and vision statement.

c. the company's competitive advantage grows out of the entire system of activities working together.

d. both answers 1 and 3 occur.

Question

Maci Haney

Business

29 October, 23:28

A company's strategy is unlikely to succeed unless:

a. the company has competencies and capabilities to efficiently sustain its competitive differentiation.

b. includes a permanent, unchangeable mission statement and vision statement.

c. the company's competitive advantage grows out of the entire system of activities working together.

d. both answers 1 and 3 occur.

+1

Answers (1)

Know the Answer?

Lainey Hubbard · Answer 1

d. both answers 1 and 3 occur.

That is

a. the company has competencies and capabilities to efficiently sustain its competitive differentiation.

c. the company's competitive advantage grows out of the entire system of activities working together.

Explanation:

In a perfectly competitive market firms have similar products and so they must compete with each other to get market share.

Gaining a competitive advantage is key in surviving within the market.

Differentiation of its products is the first step to success. When a firm's product is differentiated from others it will gain more customer loyalty as the end user identies the product with a particular trait for example high quality.

When the companie's activities are well synchronised the company achieves efficiency which is a competitive advantage of higher output than other firms.