Some Companies Seek to Identify Unoccupied Market Spaces by Developing

question 58

Multiple Choice

Some companies seek to identify unoccupied market spaces by developing products and services for which there are no competitors. According to the text, this is known as:

• A) pioneering strategy.
• B) market innovation.
• C) market leadership.
• D) red ocean strategy.
• E) blue ocean strategy.

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Definitions:

Single-loop Learning

A process where errors are corrected using past routines and policies without questioning or altering the underlying strategies and assumptions.

Uneven Participation

A situation within a team or group where there is an unequal level of involvement or contribution among members.

Creative Teams

Groups of individuals working together, blending their skills, talents, and perspectives to generate innovative solutions and ideas.

Cross-functional

Involving or relating to several different functions or departments within an organization working together on a common project or towards a common goal.