Which of the following should an organization do in order to obtain a competitive advantage through superior efficiency?
A)make products that are much more reliable than the products available in the market
B)reduce the number of inputs it requires to produce a given amount of outputs
C)use technology to make its product unique and different when compared to its rivals'
D)conduct surveys to determine whether a product will be successful in the market
E)create products that will attract customers and charge a premium price for those products

Question

Quizplus · Accepted Answer

Efficiency is a measure of the amount of inputs required to produce a given amount of outputs.The fewer the inputs required to produce a given output, the higher is efficiency and the lower the cost of outputs.

Which of the Following Should an Organization Do in Order