A Diversification Strategy Is When an Organization Seeks Competitive Advantage

question 53

True/False

A diversification strategy is when an organization seeks competitive advantage by providing goods or services that are significantly different from the competition.

Understand and identify various accounting terminologies and their definitions.

Grasp the concept of assets, liabilities, and equity in a business context.

Comprehend different types of business ownership structures and their characteristics.

Recognize the formulas used for calculating financial ratios and their applications.

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Definitions:

Compound

A substance made up of two or more elements chemically bonded together, characterized by having properties distinct from its component elements.

DRO

Differential Reinforcement of Other behavior, a technique used in behavior therapy where reinforcement is given for any response other than a targeted undesired behavior.

Contingency Reinforcement Schedule

A plan or method in operant conditioning by which a certain behavior is reinforced based on meeting specific conditions or criteria.

Differential Reinforcement Schedule

A schedule of reinforcement in which a specific number of behaviors must occur within a specified time in order for reinforcement to occur