Question

what are goodwill's competitive advantage

Answer 1

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☞ According to the text, Goodwill invested in custom software so that they are able to stabilize and keep track of daily sales. This will help the managers of this organization to spend less time doing paperwork, and focus more on the needs of employees.

Answer 2

Answer:

Goodwill can provide several competitive advantages for a company, such as, Brand recognition, High customer loyalty, Economies of scale, intellectual property, etc.

Explanation:

• Strong brand recognition: A company that has a strong and recognizable brand is likely to be more successful in attracting and retaining customers. This can lead to increased revenue and profits, and can also create positive associations with the company that contribute to the development of goodwill.

• High customer loyalty: A company that has a loyal customer base is more likely to be successful in the long term, as repeat customers generate a steady stream of revenue. Additionally, loyal customers may recommend the company to others, leading to new business and further growth.

• Economies of scale: A company that can produce goods or services at a lower cost than its competitors due to economies of scale (e.g. purchasing power, production efficiency) has a competitive advantage.

• Intellectual property: A company that holds patents, trademarks, or other forms of intellectual property has a competitive advantage as it can prevent competitors from replicating its products or services.

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