Today I attended HRM lecture. Woah..... Anyway, MH was trying to explain to us the difference between Alternatives and substitutes and he gave us a very interesting example.
Imagine Miss Hot bod who has 3 guys trying to woo her. These 3 guys each have their own characteristics and good points. ( For example, Guy A is sporty and fun loving, Guy B is musically talented and sensitive, Guy C is very helpful and supportive). Now, are the guys that are wooing Miss Hot bod considered alternatives or substitutes?
Correct Ans: Alternatives
Reason being that alternatives are considered things with different value elements and substitutes things with the same value elements. (For example, KFC MacDonald Burger King are substitutes but KFC, Crystal Jade, Fish and Co are alternatives.)
So are you an alternative or a substitute?
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