The Most Successful Companies

question 20

Multiple Choice

The most successful companies

• A)execute a dominant strategy but demonstrate characteristics of one or two supporting types.
• B)recognize that they can effectively execute only one archetype and pay little attention to developing competencies required by another archetype.
• C)focus on revenue growth even if it means sacrificing profitability.
• D)try to blend the best characteristics of the four strategic archetypes.
• E)pursue operational excellence because most buyers seek low cost and convenience above all other sources of customer value.

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Definitions:

Franchising

A form of licensing in which a company—the franchiser—agrees to provide a franchisee a name, logo, methods of operation, advertising, products, and other elements associated with a franchiser’s business in return for a financial commitment and the agreement to conduct business in accordance with the franchiser’s standard of operations.

Franchisees

Individuals or entities that purchase the rights to operate a business under a franchise brand, adhering to the specified business operations and practices.

Standardized Operations

Standardized Operations refers to the implementation of uniform procedures and processes across an organization to ensure consistency and efficiency in production or service delivery.