Question: Michael Porter argues that Question 8 Answer a . those firms that create superior value will achieve superior profitability. b . it is important that

Michael Porter argues that
Question 8Answer
a.
those firms that create superior value will achieve superior profitability.
b.
it is important that the gap between value and the cost of production be smaller than that of competitors.
c.
it is necessary for a firm to have the lowest cost structure or create the most valuable product.
d.
standardization of product is a basic strategy for attaining a competitive advantage in an industry.

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