When an Organization Focuses on Making Itself More Competitive by Producing

question 78

Multiple Choice

When an organization focuses on making itself more competitive by producing products more cheaply than competitors can,it is following a ________.

• A)stability strategy
• B)differentiation strategy
• C)focus strategy
• D)cost leadership strategy
• E)divestiture strategy

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Definitions:

Sober

A state of being free from the influence of alcohol or drugs, characterized by clear thinking and the absence of intoxication.

Agency Agreement

A contract in which one party (the agent) agrees to act on behalf of another party (the principal) in business transactions.

Commission

A fee or percentage of a transaction paid to an agent or broker for facilitating a sale or service.

Lease

A contractual agreement by which one party (the lessor) grants another party (the lessee) the right to use an asset, property, or space for a specified period in return for payment.