Michael Porter Has Argued That _____ and _____ Are Two

question 36

Multiple Choice

Michael Porter has argued that _____ and _____ are two basic strategies for creating value and attaining a competitive advantage in an industry.

• A)differentiation; price competition
• B)economies of scale; diversification.
• C)low cost; differentiation
• D)efficiency; promotion

---

Definitions:

Crime

Acts or offenses that are against the law and punishable by a governing authority.

Theory

A tentative explanation of some aspect of social life that states how and why certain facts are related.

Informal Punishment

Involves a mild sanction that is imposed during face-to-face interaction, not by the judicial system.

Formal Punishment

Sanctions or penalties that are officially imposed by a governing body or authority as a response to rule or law violations.