Question

What resources do you think are most important for Lavish Living to gain a sustainable competitive advantage? Select all that apply, then click Submit below Medical Staff Exterior Walking Trails Leadership Team Integrated Care Community Brand Name Dining Facilities Central Locations Submit

Answer 1

The resources that are most important for Lavish Living to gain a sustainable competitive advantage include;

F. Brand Name

G. Dining Facilities

H. Central Locations.

In Economics, a competitive advantage is a measure of the factors, conditions, competitive assets, skills, labor force, or circumstances that allow a business organization to manufacture finished goods or services better and perhaps, cheaper (low costs) than other rival business organizations (competitors) who are operating within the same industry.

In Business management, some good examples of competitive assets that are owned and controlled by a business firm (company) include the following:

1. Price leadership.
2. Access to scarce natural resources.
3. Intangible assets.
4. Financial resources.
5. Brand name
6. Tangible resources.
7. Results-oriented culture.
8. Dining facilities
9. Access to new or proprietary technology.
10. Highly skilled labor.
11. Central locations.