A Company That Follows a Low-Cost Strategy Could Reasonably Be

question 8

Multiple Choice

A company that follows a low-cost strategy could reasonably be expected to reduce costs by:

• A)broadening the business processes.
• B)adopting lean production and flexible manufacturing technologies.
• C)implementing first-in-first-out inventory control systems.
• D)taking steps to increase customer chum.
• E)abandoning economies of scale and learning effects.

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Definitions:

Macro Strategies

Broad approaches or methods employed by an organization or investor to achieve large-scale objectives or maximize overall returns.

Inline Skating

A recreational activity or sport involving gliding on hard surfaces wearing rollerblades with a single line of wheels.

Fashionable Clothing

Clothing that follows current trends and styles, often seen as desirable and socially relevant.

Product Development

The complete process of bringing a new product or service to market, from initial concept through design, creation, and market introduction.