The Three Generic Competitive Strategies Are

question 32

Multiple Choice

The three generic competitive strategies are:

• A)​profit-based,nonprofits,and free services
• B)​cost leadership,differentiation,and focus
• C)​manufacturing,service,and retail
• D)​mass-production,make-to-order,and services

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Definitions:

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product demanded, clearing the market.

Structural Approaches

Structural approaches refer to methods or strategies that focus on organizational design, hierarchy, and formal systems as means to achieve efficiency, coordination, and effectiveness.

Superordinate Goals

Superordinate goals are shared objectives that require cooperation among individuals or groups who might otherwise experience conflict, promoting unity.

Liaison Personnel

Individuals within an organization who act as intermediaries or connectors between different departments or units to ensure effective communication and coordination.