Sustaining Profitable Growth Through a Differentiation Approach Requires That Companies

question 47

Multiple Choice

Sustaining profitable growth through a differentiation approach requires that companies:

• A) create value by having the lowest cost of operation in the industry.
• B) continuously innovate in ways that are difficult for competitors to imitate.
• C) should reduce the features of a product to offer a more basic version of it.
• D) should reduce supplier costs drastically.

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Definitions:

Stop Payment Order

A request made to a bank by an account holder not to pay a check or payment that has been issued but not yet cashed.

Banker's Acceptance

A short-term financial instrument issued by a company but guaranteed by a bank as accepted for payment at a future date, often used in international trade.

Electronic Funds Transfers

The electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems.

POS

Point Of Sale; a system used at retail locations to manage sales, inventory, and customer transactions.