Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Join our Q&A platform to get precise answers from experts in diverse fields and enhance your understanding. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

In times of an economic downturn, which type of business strategy is most effective for a company to create and sustain competitive advantage?

Sagot :

Lanuel

A business strategy which is most effective for a company to create and sustain competitive advantage is a differentiation strategy.

What is competitive advantage?

Competitive advantage can be defined as the factors, assets, conditions, or circumstances that allow a business firm (company) to manufacture finished goods or services better and perhaps, cheaper than other rival business firms (companies) operating within the same industry.

What is a business strategy?

A business strategy can be defined as a set of guiding principles, actions, policies, and decisions that a business organization strategically combines, so as to successfully achieve its goals, objectives, attract potential customers and possess a competitive advantage over its rivals in the industry.

The types of business strategy.

Generally, there are three (3) main types of business strategy and these include the following:

  • Cost Leadership business strategy
  • Differentiation business strategy
  • Focus business strategy

In conclusion, we can reasonably infer and logically deduce that business strategy which is most effective for a company to create and sustain competitive advantage is a differentiation strategy.

Read more on competitive advantage here: brainly.com/question/26514848

#SPJ1

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.