Umpqua's vision is "to become the world's greatest bank." The company sees its competitors as other financial institutions that perform banking services. This is taking a _________ of its competition.

The statement shown in the question above presents an industry point of view regarding competition. This view was established based on the market in which both Umpqua and competitors are established. The industry's point of view in relation to the market is that the company defines that its competitors offer a product very similar to yours and that is capable of satisfying its customers efficiently, in the same way as the product produced by you same.

Lanuel Lanuel · Answer 2 · 2021-12-02T17:27:07+01:00

Since Umpqua sees its competitors as other financial institutions that perform banking services, it is taking an industry point of view of its competition.

What is competitive advantage?

Competitive advantage can be defined as the factors, conditions, or circumstances that allow a business organization (firm) to manufacture its finished goods or provide services better and perhaps cheaper than rival firms (competitors) in the same industry.

The major benefits of competitive advantage:

An increase in the level of sales.

An increase in revenue generation.

A higher profit margin than rival firms in the same industry.

In this scenario, Umpqua's vision is to be in a more favorable position become superior to other financial institutions (rival firms) that perform banking services, thereby, making it the world's greatest bank.

This ultimately implies that, Umpqua is is taking an industry point of view of its competition because it aimed at becoming the world's greatest bank.

Read more on competitive advantage here: https://brainly.com/question/24106298