Which of the Following Is an Example of a Competitive

question 32

Multiple Choice

Which of the following is an example of a competitive strategy employed by a firm?

• A) increasing the price of its product when raw material prices increase
• B) laying off staff in order to cut down costs during a recession period
• C) advertising its products nationwide like its competitor organizations
• D) launching a unique product targeted at a section of consumers

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Definitions:

Conflict Resolution

The methods and processes involved in facilitating the peaceful ending of conflict and retribution, often through negotiation, mediation, or dialogue among parties.

Collaborative Problem Solving

this method involves two or more individuals working together in a cooperative manner to solve a problem or achieve a goal.

Group Potency

The collective belief of a team in its own capability to succeed in a given task or project.

Cognitive Abilities

The mental capabilities that include reasoning, problem solving, planning, abstract thinking, complex idea comprehension, learning from experience, and adaptation to the environment.