All competitive advantages do not accrue to large sized firms. A major advantage of smaller firms is that theya.Have more loyal and diverse workforcesb.Are more likely to have organizational slackc.Can launch competitive actions more quicklyd.Can wait for larger firms to make mistakes in introducing innovative products
Question
All competitive advantages do not accrue to large sized firms. A major advantage of smaller firms is that theya.Have more loyal and diverse workforcesb.Are more likely to have organizational slackc.Can launch competitive actions more quicklyd.Can wait for larger firms to make mistakes in introducing innovative products
Solution
- Read the question carefully to understand what is being asked.
- Identify the statement being made in the question, which is that not all competitive advantages are exclusive to large firms.
- Analyze the options provided and evaluate each one in relation to the advantages of smaller firms.
- Option a states that smaller firms have more loyal and diverse workforces. Consider whether this is a competitive advantage and if it aligns with the statement made in the question.
- Option b suggests that smaller firms are more likely to have organizational slack. Evaluate whether this is a competitive advantage and if it supports the statement made in the question.
- Option c states that smaller firms can launch competitive actions more quickly. Assess whether this is a competitive advantage and if it aligns with the statement made in the question.
- Option d suggests that smaller firms can wait for larger firms to make mistakes in introducing innovative products. Consider whether this is a competitive advantage and if it supports the statement made in the question.
- Compare and contrast the advantages mentioned in options a, b, c, and d to determine which one(s) align with the statement made in the question.
- Select the option(s) that best answer the question based on the analysis conducted.
- Provide a clear and concise response, mentioning the advantage(s) of smaller firms that align with the statement made in the question.
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