-In the above figure, the movement from point C to point A is the result of
Definitions:
Strategic Mimicry
The adoption of successful strategies, practices, or operations from competitors or leading companies in an effort to improve performance or gain competitive advantage.
Low-Cost Strategy
A business approach focused on maintaining operational costs as low as possible to offer competitive pricing or to increase profitability.
Work-life Balance
The equilibrium between personal life and work responsibilities, allowing for well-being in both areas.
Action Plans
Detailed strategies outlining steps, resources, and timelines to achieve specific goals.
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