A Blue Ocean Strategy

question 46

Multiple Choice

A blue ocean strategy

• A) is an offensive attack used by a market leader to steal customers away from unsuspecting smaller rivals.
• B) involves a preemptive strike to secure an advantageous position in a fast-growing market segment.
• C) works best when a company is the industry's low-cost leader.
• D) offers growth in revenues and profits by discovering or inventing a new industry or distinct market segment that allows a company to create and capture altogether new demand.
• E) involves the use of highly creative,never-used-before strategic moves to attack the competitive weaknesses of rivals.

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Definitions:

Cooperation

The process of groups or individuals working or acting together for a common purpose or benefit, often essential for social interaction and community building.

Competition

A situation in which two or more parties strive for a common goal that cannot be shared, such as a prize or recognition.

Muzafer Sherif

A social psychologist known for his work on group norms, social influence, and the psychology of social conflict.

Sociometric Status

A measure of an individual's social standing or acceptance within a group, based on peer evaluations.