The first step to gain and sustain a competitive advantage is to
A) define a firm's vision, mission, and values.
B) understand the strategies of the competitors.
C) put the guiding policies of a firm into practice.
D) develop functional and business-level strategies.

Question

Quizplus · Accepted Answer

The first step to gain and sustain a competitive advantage is to define a firm's vision, mission, and values. With these principles in place, strategic leaders consider how to formulate strategy across different levels: corporate, business, and functional.

The First Step to Gain and Sustain a Competitive Advantage