Firm X performs the individual activities of its value chain more efficiently than is competitors.Firm X most likely has a ________.

A) strategic plan
B) cost advantage
C) core competency
D) differentiation advantage

Cost Advantage

This is the benefit a company gains when it can produce a product or provide a service at a lower cost compared to its competitors, often leading to higher profit margins.

Core Competency

Fundamental strengths or unique abilities that a company possesses, providing the foundation for its competitive advantages.

Differentiation Advantage

The unique attributes or features a product or service provides that set it apart from competitors, leading to a competitive advantage.