Your Company Has Just Implemented a New, More Efficient Set

question 48

Multiple Choice

Your company has just implemented a new, more efficient set of business processes that other firms cannot yet obtain. This will enable your firm to adopt a strategy of:

• A) cost competition.
• B) scope.
• C) scale.
• D) focus.

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Definitions:

Maslow's Hierarchy

A theory in psychology that arranges human needs into a hierarchical order, where basic needs must be fulfilled before higher-level needs can be addressed.

Activated Needs

Needs that have been aroused and are driving behavior towards goal attainment.

Equity Theory

Posits that people will act to eliminate any felt inequity in the rewards received for their work in comparison with others.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, often driven by internal or external factors.