One of Porter's Four Generic Business Strategies That Requires Products

question 179

Multiple Choice

One of Porter's four generic business strategies that requires products to have significant points of difference to target one or only a few market segments is referred to as a ________ strategy.

• A)cost focus
• B)differentiation
• C)cost leadership
• D)profit enhancement
• E)differentiation focus

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Definitions:

Visible Rewards

Tangible, observable rewards given to members of an organization for their work effort or performance, serving as motivation for continued or improved performance.

Empowered

Having the confidence and ability to make decisions and take actions autonomously, often leading to a sense of control and efficacy in one's role.

Workflow Design

The arrangement and organization of processes, tasks, and activities to achieve efficient operations and outcomes in a workplace.

Self-efficacy

An individual's belief in their own ability to complete tasks and achieve goals, which plays a critical role in how one approaches goals, tasks, and challenges.