Which of the Following Strategies Can Enable Companies to Gain

question 3

Multiple Choice

Which of the following strategies can enable companies to gain a cost competitive advantage?

• A) Removing frills from products
• B) Focusing on serving marginal customers
• C) Eliminating reverse engineering efforts
• D) Developing additional,exclusive functional departments

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Definitions:

Analogies

Comparisons made between two things for the purpose of explanation or clarification.

Models of Concepts

Theoretical frameworks used to understand how humans categorize information, form concepts, and apply these concepts to everyday life.

Cultural Bias

A predisposition to interpret and judge other people's cultures by the standards and values of one's own culture.

Validity

refers to the extent to which a concept, conclusion, or measurement is well-founded and corresponds accurately to the real world.