The Strategy in Which Managers Try to Gain a Competitive

question 79

Multiple Choice

The strategy in which managers try to gain a competitive advantage by focusing the energy of all the organization's departments or functions on driving the organization's costs down below the costs of its rivals is called:

• A)Concentration on a single industry
• B)Diversification
• C)Cost leadership
• D)International expansion
• E)Vertical integration

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Definitions:

Traditional Defenses

Established legal defenses that have been widely recognized and used within the legal system to excuse or mitigate liability.

OSHA

The Occupational Safety and Health Administration, a U.S. government agency responsible for ensuring safe and healthy working conditions.

Safe Working Standards

Refers to the policies, procedures, and regulations set in place to ensure the health and safety of employees in the workplace.

Enforcement Powers

The authority granted to certain organizations or bodies to ensure compliance with laws and regulations, often through the ability to impose penalties.