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Evaluate Best Buy against the four generic building blocks of competitive advantage: efficiency, quality, innovation, and...

Evaluate Best Buy against the four generic building blocks of competitive advantage: efficiency, quality, innovation, and responsiveness to customers. How does this exercise help you understand the performance of your company relative to its competitors?

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1) Efficiency: Efficiency in management signifies a level of performance that gives you greatest amount of outputs by using lowest amount of inputs.
2) Quality: Quality describes a certain standard of something that can be measured against similar kind of other things and gives a degree of excellence among them.
3) Customer responsiveness: customer responsiveness can be described as an ability of a business to respond and recognize to changing customer needs.
4) Innovation: innovation can be described as application of better solutions for getting better results for the organization.

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