Entering a New Business or Industry to Create a Competitive

question 24

Multiple Choice

Entering a new business or industry to create a competitive advantage in one or more of an organization's existing divisions or businesses is called

• A)related diversification strategy.
• B)international expansion strategy.
• C)low-cost strategy.
• D)concentration on a single industry.
• E)unrelated diversification strategy.

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Definitions:

Attitude Toward Unions

Individuals' opinions or sentiments regarding labor unions, influenced by personal experience, societal norms, and the perceived benefits or drawbacks of union membership.

Financial Markets

Platforms and systems where individuals, organizations, and governments trade financial securities, commodities, and other fungible items of value at prices that reflect supply and demand.

Labor Relations Environment

The context within which interactions between employers, employees, unions, and governments occur, influenced by laws, cultural norms, economic conditions, and industry practices.

Legal Environment

The framework of laws, regulations, and legal processes that govern the operations of businesses and organizations within a jurisdiction.