Exam (elaborations)
Peregrine Exam Day 5 Questions and Verified Answers| 100% Solved
- Course
- Institution
Peregrine Exam Day 5 Questions and Verified Answers| 100% Solved
[Show more]
Seller
Follow
Content preview
Peregrine Exam Day 5 Questions and Verified Answers|100% Solved
Competitive advantages can be - ✔✔broken down into comparative advantages and
differential
advantages
Comparative advantage is a company's ability to produce - ✔✔something more efficiently
than a rival,
which leads to greater profit margins
A differential advantage is when a - ✔✔company's products are seen as both unique and
higher quality,
relative to those of a competitor
Global competitiveness - ✔✔The extent to which a business or a geographical area such as a
country,
can compete successfully against rivals.
Physical Infrastructure - ✔✔Transportation, communication, energy, water, and sanitation
systems
provided by or regulated by government
public sector - ✔✔the part of the economy that involves the transactions of the government
, total factor productivity - ✔✔the amount of output that can be achieved with a given amount
of factor
inputs
Mission Statement - ✔✔a statement of the organization's purpose - what it wants to
accomplish in the
larger environment
As opposed to a business plan, which addresses how of a business, the mission statement
addresses
what? - ✔✔Why
A well-crafted mission statement can inform marketing efforts and create what? - ✔✔A sense
of unity
among employees
cost control - ✔✔A business's efforts to manage how much it spends.
Cost control is always important - ✔✔factor in maintaining and growing profitability
Outsourcing is a common method to control costs - ✔✔because many businesses find it
cheaper to pay
a third part to perform a task than to take on the work within a company.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KarmaScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78600 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now