1. From a value-creation perspective, is it more important for a company to know

Question

1. From a value-creation perspective, is it more important for a company to know where to compete or how to compete? That is, is it more important to play in the right markets or to be the best player in your current markets? 1. From a value-creation perspective, is it more important for a company to know where to compete or how to compete? That is, is it more important to play in the right markets or to be the best player in your current markets? 1. From a value-creation perspective, is it more important for a company to know where to compete or how to compete? That is, is it more important to play in the right markets or to be the best player in your current markets?

Explanation / Answer

Value-creation for its stakeholders is one of the major objectives of the businesses. A firm’s value can be maximized if its expected benefits are maximized in the long-run while profit maximization is relatively for short term. Knowing its competitive advantage helps an organization to acquire or develop the attributes that are unique and allow them in long-run to outperform their competitors and companies can achieve completive advantage in following manner-

For the companies it is very important to know their competitive advantage and they can analyze their internal and external business environment which can help them to achieve a competitive advantage by giving either best quality product/services to its customers in current market or its ability to quickly develop innovative quality products and increase its ability to serve its customers in better way.

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