Mimicking a competitor's strategies by copying its products or marketing approach is
a. Usually successful in a competitive industry.
b. One of the least effective strategies for achieving sustained profitability.
c. Something Dr. Payne told us to do in class.
d. The best approach for achieving competitive advantage in a competitive industry
Correct Answer: b. One of the least effective strategies for achieving sustained profitability.
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Which of the following is/are true about goodwill?
a. Goodwill reflects the value of knowledgeable employees. b. Goodwill reflects the value of a reputation for quality products. c. Under both U.S. GAAP and IFRS, goodwill has an indefinite life, and firms do not amortize the amount recognized as goodwill. d. Firms must test goodwill annually for a loss in value. e. all of the above
Identify three essential functions of law