One of the Generic Business Strategies That Involves Controlling Expenses

question 81

Multiple Choice

One of the generic business strategies that involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments is referred to as a ________ strategy.

• A) cost focus
• B) cost-leadership focus
• C) differentiation focus
• D) differentiation
• E) profit enhancement

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Definitions:

Confidentiality

Act of keeping information private or secret; in health care the nurse only sharesinformation about a patient with other nurses or health care providers who need to know private information about a patient to provide care for him or her; information can only beshared with the patient's consent.

Informed Consent

A legal and ethical requirement in healthcare where patients are provided with detailed information about a medical procedure or treatment before agreeing to it.

Research Team

A group of individuals with different areas of expertise working together on scientific or academic studies to achieve research objectives.

Meta-Analysis

A statistical analysis that combines the results of multiple scientific studies to arrive at a comprehensive conclusion.