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In: Economics

Question 21 2 pts Competitive advantage normally is the result of superiority in resources, skills, or...

Question 21 2 pts

Competitive advantage normally is the result of superiority in resources, skills, or

consistency.

feasibility.

position.

employees.

governance.

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Question 22 2 pts

Which of the following is NOT included in measuring organizational performance?

Investigating deviations from plans

Evaluating individual performance

Examining progress being made toward meeting stated objectives

Comparing results to competitors' expectations

Comparing expected results to actual results

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Question 23 2 pts

The Fortune 50 includes all of the following EXCEPT

the largest banks.

the largest utilities.

the largest transportation companies.

the largest retailers.

the largest hospitals.

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Question 24 2 pts

Which of the following statements about contingency plans is NOT true?

Only high-priority areas require the insurance of contingency plans.

Contingency plans should be developed for favorable and unfavorable events.

Contingency plans minimize the impact of potential threats.

Strategists should plan for all possible contingencies.

Contingency plans should be as simple as possible.

Solutions

Expert Solution

21. Competitive advantage refers to a condition where a company or any organization is in a favorable situation to produce goods and services at a lower price than the competitors. It is simply the advantage of the company over competitors in terms of efficient production.

Competitive advantage normally is a result of superiority in resources, skills or employees.

22. An organization's performance is measured by how organization is doing against its own set targets and also where it stand in market as compared to the competitors. Note that individual performance is not the metrics for an organizations performance rather an individual's performance.

Thus, evaluating individual performance is not included in measuring organizational performance.

23.The Fortune 50 includes only the corporate or private organizations and not the government units.

Thus, The Fortune 50 will not include the largest utilities.

24. Contingency plans can related to all priority areas. Also, they must be well thought, developed for all the situations and well executed.

Thus, Only high-priority areas require the insurance of contingency plans is the wrong answer.

Rahul Sunny answered 1 year ago

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