Companies can establish a competitive advantage by
A) hiring good employees and effectively managing human resources.
B) always implementing a hierarchical management scheme.
C) adopting a universalistic financial strategy.
D) ignoring the external competitive environment.
E) none of these.

Question

Quizplus · Accepted Answer

Hiring good employees and effectively managing human resources can lead to higher productivity, better customer service, and innovation, which can create a competitive advantage for a company. A hierarchical management scheme may not be effective in all situations, and adopting a universalistic financial strategy may not fit the unique needs of a company. Ignoring the external competitive environment can result in missed opportunities and failure to adapt to changes in the market.

Companies Can Establish a Competitive Advantage by