What Is Differentiation in Porter's Strategy to Surpassing the Competition

question 69

Multiple Choice

What is differentiation in Porter's strategy to surpassing the competition?

• A) Creating a unique culture with your customer base
• B) Offering a product or service that is perceived as being "unique" in the marketplace
• C) Providing purchasing history for individual customers and allowing them to compare their history to others
• D) Developing a unique working environment; one that incorporates IT to allow for efficient and off-site working

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Definitions:

Adjusting Entries

Documentation made at the culmination of an accounting period, aiming to allocate revenues and expenses to the correct timeframe of their occurrence.

Fiscal Year

A one-year period used for financial reporting and budgeting, which may not align with the calendar year.

Net Income

Represents the total profit of a company after all expenses and taxes have been subtracted from total revenue.

Insurance Policy

A contract between an insurer and a policyholder stipulating the terms under which the insurer agrees to compensate the insured for specific losses.