Please define the term “competitive advantage strategy”

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Practice Problems

Section A Competitive Advantage & Mission Statement

Task

1. Competitive Advantages:

§ Please define the term “competitive advantage strategy”.

§ Please explain why a business must set up a competitive advantage strategy.

§ Please explain how a competitive advantage would inform business activities across all levels.

2. Mission Statement:

§ Please develop a mission statement based on the differentiation (product leadership) strategy.

§ Please define the values for this company.

§ Please justify your decisions above (mission statement & values).

Data

Hint

ManagementCompetitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the productive entity to generate more sales or superior margins compared to its market rivals....

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