Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Competitive information is one of the most common things that businesses research. It is important to note that the internet and easy access to information

Competitive information is one of the most common things that businesses research. It is important to note that the internet and easy access to information as made research accessible for even the smallest of businesses. Anyone can go online search a product and compare pricing. Years ago that took time and money to go from store to store and comparative shop. I remember as a buyer for Macy’s, we were required to spend every Friday visiting our competition’s stores. According to Johnson (2000), "A Fortune 500 company survey showed 55 percent make use of competitive information in composing business strategy. Each firm is a leader in its industry and each firm knows its competitors. Companies and industries prosper through improvements in competitiveness, leveraging core competencies (strengths), and competitive intelligence is at the core of the objective of improving competitive advantage... Furthermore, economies of scale - the foundation on which big companies have based their dominance in the 'Industrial Era' - are no longer an advantage. Changes in information technology, in the financial system, in just-in-time production techniques, and in the rise of companies offering distribution and support systems which previously only the largest companies could afford -- removing the advantages of being big. The diseconomies of scale - overhead, inflexibility - are becoming increasingly powerful".

Step by Step Solution

3.51 Rating (161 Votes )

There are 3 Steps involved in it

Step: 1

Power of the medium wave transmitter P 10 kW 10 W 10 Js Hence energy emitted by the transmitter per ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

3rd Edition

9780078025525, 9780077517359, 77517350, 978-0077398194

More Books

Students also viewed these Economics questions

Question

Are learning curves likely to affect materials costs per unit?

Answered: 1 week ago