Business Studies · Competitive Strategies
Which of the following best describes the concept of 'competitive advantage'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An overall reduction in market competition due to regulatory changes
- 2A short-term, seasonal increase in sales volume
- 3Sustained ability to outperform rivals through unique value creation✓
- 4Temporary financial gain achieved through cost-cutting
Correct answer
Sustained ability to outperform rivals through unique value creation
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