Business Strategies Based on Hypercompetition Focus on Customer Satisfaction and Profit

question 22

Multiple Choice

Business strategies based on hypercompetition focus on customer satisfaction and profit maximization but also build in a component of business intelligence.Business intelligence helps an agile organization to:

• A) Predict and respond to new opportunities
• B) Leverage information technology in new ways
• C) Manage internal challenges
• D) React to supplier demands
• E) Collaborate

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Definitions:

Interrelated Components

Elements or parts of a system that are connected or related in such a way that changes in one can affect others.

Group Identification

A psychological process where an individual aligns with the norms, values, and practices of a particular group.

Transformational Leaders

Leaders who inspire followers to exceed their own self-interest for the good of the organization and who can bring about significant change.

Tolerance for Mistakes

An organizational or personal attitude that allows for errors as a learning opportunity, without immediate negative repercussions.