Question

Which of the following is not one of the most frequently used strategic approaches to building a sustainable competitive advantage?

a)striving to be the industry’s low-cost provider, thereby aiming for a cost-based competitive advantage over rivals
b)creating a differentiation-based advantage over rivals
c)sticking with an outdated business model
d)developing an advantage based on offering more value for the money
e)focusing on a narrow market niche within an industry

Answer 1

The correct answer is c) sticking with an outdated business model.

Step-by-step explanation:

The correct answer is c) sticking with an outdated business model. This is not one of the most frequently used strategic approaches to building a sustainable competitive advantage. Businesses need to constantly adapt and evolve in order to stay competitive, and sticking with an outdated model can hinder growth and success.

On the other hand, a) striving to be the industry’s low-cost provider, b) creating a differentiation-based advantage, d) developing an advantage based on offering more value for the money, and e) focusing on a narrow market niche within an industry are all commonly used strategic approaches to building a sustainable competitive advantage.