Describe Low-Cost and Differentiation Strategies, and How a Business Can

question 23

Essay

Describe low-cost and differentiation strategies, and how a business can achieve competitive advantage with either of them.

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Definitions:

Donald Super

A psychologist renowned for his development of the "Life-Span, Life-Space" theory, which regards career development as a lifelong process.

Career Development

The perpetual endeavor of guiding one's learning, professional life, recreational pursuits, and shifts in circumstances to advance towards a personally envisioned and dynamic future goal.

Maintenance Stage

A phase in behavior change models (e.g., in smoking cessation or weight loss programs) where individuals strive to sustain their achieved improvements over the long term.

Intrinsic Motive

A motivation that comes from within an individual, driven by personal satisfaction or the joy of doing something.