Which of the Following Is NOT a Key Element of 'Blue

question 35

Multiple Choice

Which of the following is NOT a key element of 'blue ocean' strategy developed by Kim and Mauborgne?

• A)Creating or finding uncontested market space by seeking opportunities based on customer needs,and what competitors currently do
• B)Making the competition irrelevant by offering new and different products that cross industry boundaries
• C)Creating and capturing new demand
• D)Pursuing differentiation and low cost simultaneously

Recognize personality traits as described by Costa and McCrae's Five-Factor Model.

Differentiate between various theories of personality, including psychodynamic, humanistic, trait, and social-cognitive theories.

Acknowledge the evidence supporting trait theories across different cultures.

Compare individualist and collectivist cultures and their influence on behavior and personality.

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Definitions:

Average Total Cost Curve

A graphical representation showing how the total cost per unit of output varies with the level of output, typically U-shaped due to economies and diseconomies of scale.

Long-run Equilibrium

A state in which all factors of production and costs are variable, allowing firms to make adjustments, resulting in no economic profit in perfect competition.

Excess Capacity

Refers to the situation where a firm produces at a level less than its potential output, leading to underutilized resources.

Short Run

A period of time in which at least one input (typically capital) is fixed, affecting the firm's capacity to adjust its production levels.