According to Michael Porter, What Are the Two Basic Strategies

question 51

Multiple Choice

According to Michael Porter, what are the two basic strategies for creating value and attaining a competitive advantage in an industry?

• A)Differentiation and low-cost
• B)Value creation and generalization
• C)One-size-fits-all and zero-sum
• D)Comparison and standardization
• E)Profitability and strategic fit

---

Definitions:

Divergent Thinking

A thought process or method used to generate creative ideas by exploring many possible solutions, often in a spontaneous, free-flowing manner.

Terman's Study

A longitudinal study conducted by Lewis Terman that began in 1921, tracking the development and characteristics of gifted children into adulthood.

IQ

Short for Intelligence Quotient, a score derived from standardized tests designed to assess human intelligence.

Concept

An abstract idea or a mental symbol typically associated with a fundamental characteristic of something.