____ Refers to Avoiding Competition in Making a Product Distinct

question 69

Multiple Choice

____ refers to avoiding competition in making a product distinct from that of competitors by adding value or features for which consumers are willing to pay more.

• A)Kaizen
• B)Differentiation
• C)Confrontation
• D)Cost leadership

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Definitions:

Control Function

An essential management activity that involves measuring actual performance, comparing it against set standards, and taking corrective action to ensure goal achievement.

Feedback

Information or reactions about a process or activity that is used as a basis for improvement.

Revise Plans

The process of reviewing and updating strategic, operational, or project plans based on new information or changes in circumstances.

Lean Business Model

A strategic approach to running a company that emphasizes creating more value for customers with fewer resources.