A Firm That Chooses a ________ Focuses on Gaining Advantages

question 13

Multiple Choice

A firm that chooses a ________ focuses on gaining advantages by reducing its cost below all of its competitors.

• A) diversification strategy
• B) product-differentiation business strategy
• C) corporate strategy
• D) cost-leadership business strategy

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Definitions:

Abstinence Syndrome

A characteristic cluster of symptoms that results from a sudden decrease in the level of usage of a substance.

Sudden Decrease

An abrupt reduction or drop in a quantity or quality, which can relate to anything from financial markets to personal health.

Conventional Thought

A stage of cognitive development where individuals' reasoning becomes based on conformity to social standards, rules, and laws.

Social Conventions

Agreed-upon norms and behaviors that govern interactions within a society, providing a framework for social order.