According to Michael Porter, What Are the Two Basic Strategies

question 13

Multiple Choice

According to Michael Porter, what are the two basic strategies for creating value and attaining a competitive advantage in an industry?

• A) differentiation and low-cost
• B) value creation and generalization
• C) one-size-fits-all and zero-sum
• D) comparison and standardization
• E) profitability and strategic fit

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Definitions:

Movement Analysis

A technique used to analyze the chain or ripple effect that promotions or job losses have on the movements of employees.

Markov Model

A statistical model that predicts future states based on current data and historical transitions, commonly used in various fields including HR for forecasting workforce changes.

HR Planning Method

Approaches and strategies used by human resource departments to forecast future personnel needs and ensure a balance between demand and supply of skilled workers.

Skills Inventories

A comprehensive list or database that tracks the skills, qualifications, and experiences of employees within an organization.