What Strategy Involves a Company Working on Serving the Needs

question 54

Multiple Choice

What strategy involves a company working on serving the needs of a narrowly defined market segment?

• A) differentiation strategy
• B) focus strategy
• C) stability strategy
• D) retrenchment strategy

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Definitions:

Extrinsic Motivation

Motivation that is driven by external rewards such as money, fame, grades, or praise.

Self-Managed Work Team

A team in which members collectively take on managerial responsibilities, such as planning, scheduling, and evaluating their own work.

Extra Pay

Additional compensation provided to employees on top of their regular salary, often for overtime, bonuses, or for working under special conditions.

Free Rider Effect

The phenomenon where individuals benefit from resources or goods without contributing to the cost or effort.