Achieving a Cost Advantage Over Rivals Entails

question 53

Multiple Choice

Achieving a cost advantage over rivals entails

• A) concentrating on the primary activities portion of the value chain and outsourcing all support activities.
• B) being a first mover in pursuing backward and forward integration,and controlling as much of the industry value chain as possible.
• C) performing value chain activities more cost-effectively than rivals and finding ways to eliminate or bypass some cost-producing activities.
• D) minimizing R&D expenses and paying below-average wages and salaries to conserve on labor costs.
• E) producing a standard product,redesigning the product infrequently,and having minimal advertising.

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Definitions:

Company Policy

Official guidelines and rules established by a business that dictate behavior and procedures within the organization.

Refusing Claims

The process of denying or rejecting requests or demands in business or communication contexts.

Direct Approach

A method of communication in which the main point is presented at the beginning, followed by supporting details.

Positive Relationship

A connection between individuals or groups characterized by mutual respect, cooperation, and support.