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.

Recognize the importance of ethical training, a code of conduct, and mechanisms for reporting unethical behavior in organizations.

Identify the elements that might be included in a company's code of conduct.

Understand the purpose and components of social audits.

Recognize various approaches companies adopt to promote ethical behavior and social responsibility.

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Definitions:

Artificial Mothers

Refer to experimental or surrogate mother figures used in psychological studies to explore attachment, comfort, and emotional security in infants.

Erikson's Childhood Stages

A developmental theory by Erik Erikson that outlines eight stages from infancy to adulthood, with each stage presenting a psychological conflict that must be resolved for healthy personality development.

Industry Vs. Inferiority

A stage of Erikson's psychosocial development where, between the ages of 5 and 12, children strive to master knowledge and skills, facing the challenge of feeling competent versus inferior.

Initiative Vs. Guilt

A stage in Erik Erikson's psychosocial development theory where children aged around 3 to 5 years face the challenge of undertaking new tasks or feeling guilty for failing.