When Applying Porter's Three Generic Strategies, Tiffany and Co

question 183

Multiple Choice

When applying Porter's three generic strategies, Tiffany and Co.has a competitive scope and cost strategy that is __________.

• A)broad market - high cost strategy
• B)narrow market - low cost strategy
• C)narrow market - high cost strategy
• D)broad market - low cost strategy

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Definitions:

Higher Levels

relates to positions, status, or stages that are advanced or superior in rank, quality, or degree in any hierarchical or structured context.

Performance

The execution or accomplishment of work, actions, tasks, or functions measured against preset known standards of accuracy, completeness, cost, and speed.

Objectives

Specific, measurable goals set by an individual or organization to achieve desired outcomes.

Expectancy Theory

A motivational theory that suggests an individual's behavior is determined by their expected outcomes and the attractiveness of those outcomes.