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The next few questions are based on the following description.
A biology student hiking in a forest happens upon an erect, 15-cm-tall plant that bears microphylls and a strobilus at its tallest point. When disturbed, the cone emits a dense cloud of brownish dust. A pocket magnifying glass reveals the dust to be composed of tiny spheres with a high oil content.
-This student has probably found a(n)
Generic Strategies
A framework in business strategy that outlines three main approaches a business can take to gain competitive advantage: cost leadership, differentiation, and focus.
Differentiation
The process of distinguishing a product, service, or business from competitors in order to attract a particular target market.
Cost Leadership
A business strategy focusing on gaining advantage by reducing production or service costs below those of competitors.
Transnational Strategy
A business strategy that involves operating globally but with responsiveness to local needs and preferences.
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