Which of the Following Strategies Best Illustrates a Generic Business

question 26

Multiple Choice

Which of the following strategies best illustrates a generic business strategy?

• A) a cost-cutting strategy that corporate executives in the headquarters want all business units of a large conglomerate to implement
• B) a strategy to use monetary incentives to motivate employees working on a project
• C) a decision to computerize a firm's database in order to improve customer service
• D) a decision to niche market the jewelry sold by a company while the apparel division under the same company sells its products through mass marketing

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Definitions:

Pollution Reduction

The process of decreasing or eliminating the release of pollutants into the environment, typically involving regulations and technologies aimed at clean air, water, and soil.

Minimum Cost

The lowest possible expense at which a company can produce a good or service without sacrificing quality.

Efficient Amount

The quantity of a good or service that maximizes social welfare, where marginal benefits equal marginal costs.

Socially Optimum

The most desirable level of output or activity from a societal perspective, balancing costs and benefits to achieve maximum social welfare.