Question 1
Which type of advantage is gained by a company based on where it operates? a. Lifecycle-specific b. Innovation-specific c. Institution-specific d. Location-specific Competitive Advantage: In the parlance of strategy, it is always desirable that a given firm has a competitive advantage in the industry where it operates so that it can generate more returns for the shareholders. The source of the competitive advantage could be related to innovation, location, business cycle etc.
Question 2
the behavorial approach to personality postulates that personality is:
a. the combonation of environmental circumstances and unconcious impulses
b. a finction of how we feel about conditions in the environment
c. habitual behaviors that we learn to demonstrate
d. the result of inherited predispositions to behave in certain ways
Question 3
Question 4
Answer to question 1
The correct answer to the given question is option d. Location-specific.
A firm gets a location-specific advantage depending upon the location where it operates. If various partners in the supply chain are located in the vicinity of the firm, it becomes easier for the firm to carry out supply chain management and it also reduces the transportation cost. Similarly, if the distribution centers are also located in the vicinity, it becomes easier to reach out to customers.
The lifecycle-specific advantage is gained by firms which sell the products that are in demand throughout the year regardless of the season such as pharmaceutical and food staple firms. The innovation-specific advantage occurs when innovative products or services help in increasing the sales and profits for a firm.
Answer to question 2
Answer to question 3
Answer to question 4