Explain How a Differentiation Strategy Enables a Business to Address

question 69

Essay

Explain how a differentiation strategy enables a business to address the five competitive forces in such a way that it can enjoy high levels of profitability.

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Definitions:

Offshoring

The practice of relocating business processes or services to a different country, typically to leverage cost advantages.

Outsourcing

The practice of contracting out certain business processes or functions to external providers, often to reduce costs or improve efficiency.

Digital Immigrants

An individual who was not born into the digital age but has adopted and learned digital technologies later in life.

Baby Boomers

The demographic cohort following the Silent Generation and born between the years 1946 and 1964, often associated with significant economic, political, and social changes.