BUSN412 Essay Questions

BUSN412 Essay Questions - (TCOs 1, 4 & 5) By gathering...

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(TCOs 1, 4 & 5) By gathering information about competitors in the public domain, competitor intelligence can be improved. Explain and provide examples. Gathering competitor information in the public domain can help a business gain a competitive advantage. This information invaluable in developing forecasts and scenarios to minimize present and future threats as well as exploit opportunities. McDonalds and Burger King has a long history of competition. Burger King seems to have always been a step behind McDonalds and are continuously seeking ways to outdo their competitor. Buy using information from the public domain in forms of word of mouth, surveys and sales Burger King is always trying new ways to gain a competitive edge. I have noticed that Burger King has continuously improved and added items to their menu, advertise sales, offer low prices, free samples and free coffee. Burger King is using information from the public in an attempt to generate a greater amount of sales. Page 42-44. Answers will vary. Students should include a definition of this concept as defined on pages 42 through 44, as well as the various examples that are also located on these pages, such as: banks continually track home loan and certificate of deposit interest rates charged by rivals, major airline change hundreds of fares daily in response to competitors' tactics, etc. (TCOs 2 & 3) Use the value chain as a framework to explain how a firm can achieve a competitive advantage of overall cost leadership. Businesses provide services or sell products to gain profits. A businesses profit margin is a great indicator of a businesses success. Cutting costs associated with all aspects of an organization is
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BUSN412 Essay Questions - (TCOs 1, 4 & 5) By gathering...

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