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

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Definitions:

Human Needs

The basic requirements necessary for individuals to survive and thrive, including food, water, shelter, safety, belonging, and self-esteem.

Higher Levels

A phase or degree that is above average or standard, often referring to advanced stages or positions of authority within an organization.

Human Resources Management

A function within organizations focused on recruiting, managing, and directing people who work in it.

Management Function

The activities undertaken by managers in planning, organizing, leading, and controlling to achieve organizational goals.