Assume a Firm Is at a Cost Disadvantage with Rivals

question 37

Essay

Assume a firm is at a cost disadvantage with rivals because its internal costs are higher than those of rivals.Identify several strategic moves that it can make to restore cost parity.

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Definitions:

Representative Workforce

An employee base that reflects the diversity of the demographic composition of the society it operates in.

Demographic Composition

The statistical characteristics of a population, including aspects such as age, race, gender, and income levels.

Employment Equity Program

A policy aimed at eliminating discrimination and promoting equal opportunity for all job applicants and employees in the workplace.

Workplan

A detailed outline of tasks, resources, timelines, and goals for a project or business initiative, intended to guide implementation and track progress.