A(n)________ industry is one that is characterized by many small firms, a commodity product, and little or no ability for each firm to raise its prices.

When a firm does not continually upgrade or improve core competencies, its competitors are likely to

Competitive rivalry based solely on________ is destructive to firms, as it transfers most of the value created in the industry to the customers.

The management of Venture Manufacturing showed a commitment to________ by increasing the salary of many female employees to meet its goal of having equal pay for comparable work regardless of gender.

Firms that can employ and establish________ are more likely to protect their competitive advantage from being copied and/or eroding away.

A wearable technology company has priced one of its wristwatches at $210. Most of its competitors sell similar watches at $180. Selling at any price less than $150 would result in a loss for the company. However, the absolute maximum a customer is willing to pay for it is $170. In this scenario, what is the reservation price of the wristwatch?

The strategic decision to design a supply chain to provide higher quality products at a lower cost while also reducing environmental impact represents

If all firms in an industry pursued a low-cost position through application of competitive benchmarking, which of the following would happen?

Skin Science Inc. produces a line of skincare products that it sells at higher prices than its competitors. The company has a large and loyal customer base due to its unique formulations, high-quality ingredients, and superior customer service. Which of the following generic business strategies has Skin Science adopted in this scenario?

Which of the five forces is Starbucks answering when it repeatedly upgrades and refreshes its stores and offerings?