Competitive Advantage & CSR

1. A competitive advantage is the leverage a business have over its competitors.

• True

• False

1. A business can create a competitive advantage by

• Decreasing the price

• Only selling the product online

• Improve the quality of the product or service

• Targeting the same market as its competitor

Innovation can help a business increase its competitive advantage.

• False

• True

Customer demand is constantly changing due to changes in:

• Tastes and fashion

• Population (age and gender)

• Price of goods and services

• All of the above

Profit margin:

• Can NOT be expressed as a percentage

• Indicates the financial health of a business

• Healthy profit margins are the same in all industries

• All of the above

A Business can create a competitive advantage by:

• Offering a high cost product

• Differentiating the product or service

• Decreasing productivity

• All of the above

Business can reduce costs by

• Eliminating waste

• Buying inputs in bulk

• Outsourcing or offshoring

• All of the above

An ethical decision is one that is legal and meets the shared ethical standards of the community

• True

• False

Morals are what you believe to be right and wrong

• False

• True

Ethics is about doing the right thing only when there are possible consequences?

• False

• True