Business, 31.12.2019 01:31 Ziham

Generally, when a company institutes a change to counter that of a rival company, it is making a change in its

a. structure

b. staffing

c. strategy

d. systems

Answers: 2

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Answer from: nila49

c. strategy

Explanation:

Competitive advantage is an economic category, which means that an economic entity has unique characteristics that distinguish this economic entity from other similar entities in the market. The concept of "competitive advantage" was first scientifically substantiated by Michael Porter at the turn of the 1970s and 80s. Competitive advantages and disadvantages are identified in the process of comparing the elements of activity of market participants with the elements of activity of rivals. So, for example, you can determine whether a business idea is better or worse, the name of the created or acquired company, the composition of the personnel, management and top management of the company, business models, tools and objects of work used in business, business communication. The need for constant comparison with direct rivals leads to the fact that the assessment of competitive advantages and disadvantages of market participants can vary depending on the analyzed groups of competitors. The level of competitive advantages and disadvantages of market participants can also vary across sectors and segments of different types of markets - local, local, national, international markets.

According to the basis of competitive advantage, the company should create any effects to overcome the rivals. That's why it should change its strategies. In the Porter's opinion of Generic Strategies, the firm may compete in narrow or wide segments and the strategies will differ. If the company is in narrow or small sector, it should pursue the focus strategies which could be mixed one. However, if it is in the wide or big market, the seek ought to be whether cost leadership strategy or product differentiation strategy in order to make you over your rivals and give more value to your customers. In cost leadership, the company will postulate through how it could decrease the costs of products and make substitution effect in market. In product differentiation, the purpose is not only to decrease the costs or sell on minimized prices but also to establish new value, or method on innovative manner.

That's why if the company institutes a change against rival, it will be surely about the strategy.

Answer from: Quest

answer; ///(d) stand out from all of the others;

Answer from: Quest

the correct answer is b.)

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