The Basic Proposition of the Blue Ocean Strategy Is That

question 57

Multiple Choice

The basic proposition of the blue ocean strategy is that many successful companies have built their competitive advantage by:

• A) redefining their product offering through value innovation and creating a new market space.
• B) initiating a price war in order to grow volume and drive its weaker rivals out of the industry.
• C) developing brand loyalty to protect them from intense price rivalry within their industry.
• D) charging premium prices for their goods or services.
• E) adopting lean production and flexible manufacturing technologies.

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Definitions:

Status Hierarchies

The ranking of individuals or groups according to various criteria, leading to differential treatment based on one's position within the hierarchy.

Naturalistic Fallacy

A bias toward believing that biological adaptations are inherently good or desirable.

Lamarckian Evolution

A theory of evolution based on the principle that physical changes acquired over the life of an organism (such as muscle growth) can be inherited by its offspring.

Biological World

The collective term for all living organisms and their interactions within various ecosystems on Earth.