Respuesta :
Acme auto repair includes a thriving business based on its reputation for high-quality work, honesty, and skilled employees. for continued long-term success, acme's owner should concentrate on developing Acme's future competitive advantages.
What is future competitive advantages?
A company's ability to produce goods or services faster, more efficiently, or for less money than its competitors is known as a competitive edge. These elements enable the producing unit to outperform its competitors in terms of sales or margins. A competitive advantage is a benefit over rivals obtained by providing consumers with more value, either through lower prices or by the provision of better benefits and services that allow for higher prices.
A company's long-term plan to acquire a competitive advantage over its rivals in the market is known as its competitive strategy. It aims to forge a defensive position within a sector and produce a higher return on investment (return on investment ).
Cost advantage and distinctiveness advantage are the two ways that an organisation might outperform its competitors, according to Michael Porter. When a company offers the same goods and services as its rivals but at a lower price, it is said to have a cost advantage.
A company has a differentiation advantage when it offers superior goods and services to those of its rivals. Porter thought that creating and maintaining a competitive edge should be a priority for strategic management.
Hence, Acme auto repair includes a thriving business based on its reputation for high-quality work, honesty, and skilled employees. for continued long-term success, acme's owner should concentrate on developing Acme's future competitive advantages.
To learn more about competitive advantages refer to:
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