According to Porter, the Competitive Strategy That Reflects the Ability

question 91

Multiple Choice

According to Porter, the competitive strategy that reflects the ability of the corporation or its business unit to design, produce, and market a comparable product more efficiently than its competitors is called

• A)competitive scope.
• B)differentiation.
• C)concentration.
• D)diversification.
• E)lower cost.

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Definitions:

Perpetual Inventory System

The inventory system in which each purchase and sale of merchandise is recorded in an inventory account.

Control Over Inventory

The process of managing and regulating the supply, storage, and accessibility of inventory to ensure sufficient quantities without excessive surplus.

Periodic Inventory System

The inventory system in which the inventory records do not show the amount available for sale or sold during the period.

Merchandise Inventory Account

An account that tracks the cost of goods held for sale during an accounting period.