How Can Blue-Ocean Thinking Result in Cost Savings for Companies

question 116

Multiple Choice

How can Blue-Ocean thinking result in cost savings for companies that practise it?

• A) by diminishing quality to increase profit margins
• B) by searching within the conventional boundaries of industry competition
• C) by seeking head-to-head battles with competitors based largely on price
• D) by eliminating and reducing the factors affecting traditional industry competition
• E) by competing in occupied market positions with traditional value expectations

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Definitions:

Managerial Accountants

Professionals who focus on providing the financial information necessary for management to make decisions regarding the planning, direction, and control of an organization.

Tax Reports

Documents prepared for the government that detail an entity's income, expenses, and other tax-related information for fiscal purposes.

Profit Reports

Financial documents that summarize the revenue, expenses, and profits of a business within a specific period.

Product Line

A group of related products manufactured or sold by a company, often differentiated by function, target market, or price range.