Competitive advantage is when a firm sustains profits that exceed the average for its industry‚ the firm is said to possess a competitive advantage over its rivals. The goal of much of business strategy is to achieve a sustainable competitive advantage. There are two main types of competitive advantage. Cost advantage and differentiation advantage. A competitive advantage exists when the firm is able to deliver the same benefits as competitors but at a lower cost(cost advantage)‚ or deliver benefits
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comparative advantage: The theory provides a basis for explaining and justifying international trade in a model world assumed to enjoy free trade‚ perfect competition‚ no uncertainty‚ costless information‚ and no government interference. 5. Limitations of comparative advantage: a. Countries do not appear to specialize only on those products that could be most efficiently produced by that country’s particular factors of production. b. Governments interfere with comparative advantage for a variety
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PESTICIDES IN OUR ECONOMY INTRODUCTION A pesticide is a material used to kill or reject a pest. Pesticides have disadvantages and advantages. They are able to restrain pests‚ but it can also kill other organisms as well. Not only do they affect animals but they can effect us‚ as humans. A pesticide is a biological‚ physical‚ or chemical agent used to kill plants or animals that are harmful to people. The name pesticide is generally applied only to chemical agents. Examples of different
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Advantages of the Corporate Structure A company is a legal entity created separately from those who own and operate it. As a separate entity‚ the company’s debts and taxes are separate from its owners (shareholders)‚ thereby‚ offering the greatest personal liability protection of all business structures. A company is an artificial "legal" person. It is owned by shareholders who have limited liability (i.e.‚ they are not personally responsible for the company’s debts). A company is run by directors
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What are advantages and disadvantages of advertisement? • The advertisement informs the consumer about qualities and price of goods and this makes purchasing easy for the consumers. • As the prices are already advertised‚ the consumers cannot be over charged. • By regular advertisement‚ the manufacturer can sell the goods directly to the consumers without depending on middlemen this eliminates the Middleman’s charges and profit. It means higher profit to the manufacturer and lower
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Editorial Summary J. C. of NH wrote a letter to the Editor of a local paper. JC is concerned with all the many new proposed educational bills by the Republican Party in the State. His ultimate question is‚ what is going to happen to the NH Advantage. Mr. C. claims that the public is learning all about the future of NH’s education program as the house seeks to eliminate the arts‚ tech programs and foreign languages. He touched on the impact the cuts would have on the North Country when
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not only looking at the direct benefits of purchasing a product but also at the added benefits that come with it. More and more competitors of Sony have changed the way they interact with their customers in order to gain and maintain competitive advantage (Sony‚ n.d.). This paper will explore the possibilities for Sony to increase sales by drawing attention to the experience of customers using their products. 2 Research problem statement In order to stay competitive‚ Sony needs to find new ways
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everything in life‚ both chain and independent restaurants come with advantages and disadvantages; however‚ they both possess common factors such as growth‚ economic sales and development. Pertinent to the success of chain and independent restaurants is site selection. Because chain restaurants have more resources including the ability to retain realtors that specialize in real estate growth and development‚ they have an advantage. Though chain restaurants have the funding to hire experts in
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The advantage of living in Malaysia Moving to a different country or studying abroad are very usual situations nowadays. Many people consider migrating to Malaysia. There are two advantages of living in Malaysia which are the weather is good and the other one is they can know many different cultures. The most important advantage of living in Malaysia is the tropical climate since it’s near the equator. The year-long warm and sunny climate offers a great lifestyle‚ especially for
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ADVANTAGES OF HIGHER EDUCATION General Purpose: To Inform General Purpose: To inform my listeners of advantages of a college education. Central Idea: Having a solid grasp on being taught‚ being a learned individual on a mission to succeed‚ and bringing the best result out of the repetitiveness of daily life. Introduction I. Attention Material: A. “The Benefits
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