ALLOWANCE FOR DOUBTFUL ACCOUNTS see ALLOWANCE FOR BAD DEBTS.
COMPETITIVE ADVANTAGE exists when the firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage). Thus, a competitive advantage enables the firm to create superior value for its customers and superior profits for itself. See also SUSTAINABLE COMPETITIVE ADVANTAGE.
ON-THE-JOB TRAINING (OJT) is training that takes place at the work site, usually supervised by a manager or an experienced coworker.
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