Explain whether the following statement is true or false.
To gain a competitive advantage, a firm must have the organizational ability to exploit their resources.
The business competition is not uncommon as each firm comes into the market to prove its production capability and resource utilization. The basic rationale of business competition is probable innovation and boost economic growth in the country.
Answer and Explanation:
This statement is false
The firms are initially required to economize all of its resources for offering the optimal amounts of production. Merely,...
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fromChapter 3 / Lesson 6
Marketing environments are not only influenced by domestic competition, but also by foreign. In both aspects, marketers must analyze their competitors' strengths and weaknesses to thrive. Learn about the types of competitors in different parts of the market and the regulations that dictate the roles of these competitors.