Name and Describe the Two Broad-Based Strategy Options That a Firm

question 11

Essay

Name and describe the two broad-based strategy options that a firm can select when pursuing a competitive advantage in the marketplace.

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Definitions:

Stable Causes

Factors or conditions that consistently contribute to an outcome or effect with little variation over time.

Actor-Observer Bias

A cognitive bias involving the tendency to attribute one's own actions to external factors while attributing others' actions to their personality or disposition.

Cognitive Dissonance

A psychological phenomenon that occurs when an individual experiences discomfort due to holding conflicting beliefs or values.

Defensive Attributions

Cognitive processes used to deflect blame from oneself and to prevent feelings of guilt or inadequacy, often by assigning responsibility to external factors.