AS1 Competitive Advantage in Business

What is the definition of competitive advantage in business?

• A temporary advantage that lasts for a few days or weeks.

• A sustainable advantage that can be maintained over time.

• An advantage that is based solely on price reductions.

• An advantage that is only relevant in local markets.

Which company is known for dominating many e-commerce segments globally?

• IKEA

• Nike

• Amazon

• Google

What percentage of the home furnishings market does IKEA hold in many countries?

• 10%

• 20%

• 30%

• 40%

In the UK, what percentage of online web searches are conducted using the Google search engine?

• 50%

• 70%

• 80%

• 90%

What fraction of running shoes sold in the US are Nike shoes?

Which of the following is NOT a characteristic of a competitive advantage?

• It is sustainable.

• It is temporary.

• It provides a business with an edge over competitors.

• It can be maintained over time.

Why is it important for businesses to have a competitive advantage?

• To increase short-term profits.

• To ensure long-term success and market leadership.

• To reduce operational costs.

• To focus solely on local markets.

Which company is a global leader in the home furnishings market?

• Amazon

• Nike

• IKEA

• Google

What is a key factor that contributes to a business's competitive advantage?

• High employee turnover.

• Consistent innovation and improvement.

• Frequent changes in leadership.

• Sole reliance on traditional marketing.

Which of the following is an example of a company with a strong competitive advantage in the search engine market?

• Amazon

• Nike

• IKEA

• Google