The Competitive Objective of a Best-Cost Provider Strategy Is to

question 34

Multiple Choice

The competitive objective of a best-cost provider strategy is to

• A)outmatch the resource strengths of both low-cost providers and differentiators.
• B)position the company outside the competitive arena of low-cost producers and differentiators.
• C)meet or exceed buyer expectations on key quality/performance/features/service attributes and beat their expectations on price (given what rivals are charging for much the same attributes).
• D)deliver superior value to buyers by doing such a good job of cost control that it ends up with the best cost (as compared to rivals)in performing each activity in its value chain.
• E)identify and concentrate on those differentiating features that are inexpensive to incorporate.

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Definitions:

Compensation Plan

A structured policy designed to reward employees for their contributions to an organization, including salaries, bonuses, and benefits.

Salary Compensation Plan

A structured pay system for employees, detailing base salary, benefits, bonuses, and possibly commissions.

Mental Demands

The cognitive and emotional effort required to perform a task or job, including problem-solving, decision-making, and managing stress.

Job Description

A formal account of an employee's responsibilities, duties, and the scope of a specific position within an organization.