Porter Identified Three Generic Strategies That a Business Could Follow

question 64

Multiple Choice

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter. Which of the following is not included as one of Porter's three generic strategies?

• A) Broad differentiation
• B) Supplier cost differentiation
• C) Focused strategy
• D) Broad cost leadership

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Definitions:

Social Values

Social values are the principles and beliefs held by a society that shape behaviors, guide ethical decisions, and form the foundation of cultural norms.

Stage Fright

Anxiety or fear experienced before or during a public performance or presentation.

Winston Churchill

A British statesman, writer, and Prime Minister during World War II, renowned for his leadership during a critical period in British history.

Vivid Imagery

Strong, clear, and detailed description or visualization that appeals to the senses.