Once a Company Has Decided to Employ One of the Five

question 44

Multiple Choice

Once a company has decided to employ one of the five basic competitive strategies, then it must also consider such additional strategic choices as

• A) whether and when to go on the offensive and initiate aggressive strategic moves to improve the company's market position.
• B) whether to outsource certain value chain activities or perform them in-house.
• C) whether to form strategic alliances and collaborative partnerships to add to its accumulation of resources and competitive capabilities.
• D) whether to integrate forward or backward into more stages of the industry value chain.
• E) All of the above.

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Definitions:

May

Not a term that needs defining within the given context.

Labor Efficiency Variance

The variance between the number of hours actually worked and the expected standard hours needed to achieve a specific output level, calculated using the standard labor rate.

November

The eleventh month of the Gregorian calendar, often associated with autumn in the Northern Hemisphere and spring in the Southern Hemisphere.

Labor Rate Variance

This measures the difference between the actual wages paid to workers and the expected wages as per standard cost for the actual labor hours worked.