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Michael Porter Sees a Business as Having Two Options When

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Michael Porter sees a business as having two options when deciding on a strategy: (1)cost leadership or (2)differentiation.Discuss the difference and the relationship between these two options.


Definitions:

Life Span

The maximum or typical length of time an organism is expected to live, from birth till death.

Intelligence

The ability to learn from experience, solve problems, and use knowledge to adapt to new situations. It encompasses a range of aptitudes, skills, and talents.

Heritability

The proportion of variation among individuals in a group that we can attribute to genes. The heritability of a trait may vary, depending on the range of populations and environments studied.

Genetically Similar

Refers to organisms or cells having nearly identical genetic material.

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