Question

One of the competitive dimensions that form the competitive position of a company when planning their strategies is making the best trade-off. True or False True False

Answer 1

Answer: False

Explanation: A competitive strategy is a long-term plan of action that businesses create and adhere to in order to achieve a competitive advantage over their competitors after examining and reviewing their strengths and weaknesses and comparing them to their competitors. It is aimed at creating defensive position in an industry and generating a superior revenue, profits, returns on investment, customers etc. Competitive dimensions that there are include: Cost of Price, Quality, Delivery Speed, Delivery Reliability, Coping with Changes in Demand, Flexibility and New Product Introduction Speed.

Answer 2

True.

Step-by-step explanation:

Competitive dimensions are strategies that businesses use to achieve competitive advantage in the industry. For example if a company makes quick service delivery a tool to differentiate its services from others.

Competitive dimensions include low cost, flexibility, delivery, and quality.

When a company makes the best trade off it chooses the best option that will better drive it's success in the industry.