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SRP Lesson 3 Knowledge Check

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SRP Lesson 3 Knowledge Check

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Question 1 of 4

1. Question
1.What does the term Competitive advantage refer to?
- 1. How competitive you are when challenging others in a race, game, or sport.
- 2. The unique drive you have to go after what you desire and win every time.
- 3. The unique strengths, capabilities, or advantages that you possess as a diverse supplier.
- 4. The lucky stride you possess that always allows demonstrates your resilience
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Question 2 of 4

2. Question
1. True or false: One’s competitive advantage can be the distinctive edge that enables their company to offer superior value to customers, achieve higher profitability, and gain a stronger market position.
- 1. True
- 2. False
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Question 3 of 4

3. Question
1. Lesson 3 mentioned that Diverse Suppliers like you, should identify and re-evaluate their diverse supplier goals early and often. What was the reason given for this?
- 1. Doing so will provide you with the hidden secrets of proven money-making formulas.
- 2. Doing so will allow you to change your goals and desires based on the company you’re working with at the time.
- 3. Doing so will provide you with clarity, direction, motivation, and the ability to make more strategic decisions as you look to work with major organizations.
- 4. Doing so will allow you to take full advantage of tax benefits due to you as a diverse supplier.
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Question 4 of 4

4. Question
1. In Lesson 3, Butter Cup Bakery wanted to expand their supplier networks and work with other diverse business owners. What was their main reason given for this?
- 1. Doing so would exert their dominance in the marketplace and show smaller companies their superiority.
- 2. Doing so would give them a unique competitive advantage and build other small businesses in the process.
- 3. Doing so would mean growing a quick and easy talent pipeline for Butter Cup Bakery as they recruit new businesses.
- 4. Doing so would enable them to start a paid mentorship program teaching new diverse suppliers how they achieved past success.
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