A Type of Generic Strategy Aimed at Clarifying How One

question 49

Multiple Choice

A type of generic strategy aimed at clarifying how one product is unlike another in a mass market refers to _____ strategy.

• A)differentiation
• B)cost
• C)integration
• D)focus

Appreciate the competency of leadership and navigation in shaping HR vision and contributions.

Understand the concept of business acumen and its relevance to HR professionals.

Identify the principal clusters of competencies necessary for success in HRM.

Recognize the ethical foundations and importance of privacy and due process in HR practices.

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Definitions:

Marginal Revenue Product

The additional revenue generated from using an additional unit of a resource or input.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding all other inputs constant.

Variable Input

An input in the production process that changes in quantity with the level of output, such as raw materials or labor hours.

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee.