After Analyzing Their Company's Strengths and Weaknesses, Top Managers at Loan

question 112

Multiple Choice

After analyzing their company's strengths and weaknesses, top managers at Loan Bright decided that they would serve individual loan officers who typically only wanted to purchase small sets of homebuyer data, rather than bigger institutional clients. To meet the needs of this segment, Loan Bright simplified its sales contract, restructured its advertising efforts to focus on Google ads, and created a separate customer-service department. Loan Bright's strategy is best described as a(n) ________ strategy.

• A) overall cost leadership
• B) focus
• C) differentiation
• D) diversification
• E) promotional

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Definitions:

Organizational Factors

Elements within an organization, such as culture, structure, and leadership, that influence behaviors, decisions, and overall performance.

Motivational Carrots

Incentives or rewards used to motivate individuals or encourage desired behaviors, often in a work or goal-oriented context.

Industry Rivals

Companies or organizations operating in the same market, offering similar products or services, and competing for the same customer base.

Preventing Misconduct

Involves the implementation of policies and practices designed to stop unethical or illegal actions before they occur within an organization.