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Discuss How a Cost Leadership Strategy Can Allow a Firm

question 115

Essay

Discuss how a cost leadership strategy can allow a firm to earn above-average returns in spite of strong competitive forces. Address each of the five competitive forces.


Definitions:

Behavior

The actions or reactions of a person or animal in response to external or internal stimuli.

Need-Based Theories

Are theories of motivation that focus on what motivates a person, rather than on how that motivation occurs.

Motivation

A psychological force that drives individuals to achieve goals and fulfill needs.

Maslow

Refers to Abraham Maslow, a psychologist known for creating Maslow's hierarchy of needs, a theory in psychology regarding human motivation.

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