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According to Michael Porter, Managers Have Two Basic Ways of Increasing

question 99

Essay

According to Michael Porter, managers have two basic ways of increasing the value of an organization's product: differentiating the product or lowering the costs of making it. Define each strategy and analyze its impact on profits and the entry of new competitors into the industry.


Definitions:

Open Sentence

A mathematical or logical statement containing one or more variables that does not have a definitive truth value until the variables are specified.

Variable

An aspect, trait, or element that has the potential to change or differ.

Sentence

A sequence of words that is self-contained, typically featuring a subject and a verb, to deliver a statement, interrogative, exclamation, or imperative.

Variable

A factor, characteristic, or detail that can alter or shift.

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