The Options for Remedying an Internal Cost Disadvantage Include

question 23

Multiple Choice

The options for remedying an internal cost disadvantage include

• A) investing in productivity-enhancing, cost-saving technological improvements.
• B) outsourcing internally performed activities to those able to perform the activities at a lower cost.
• C) implementing the use of best practices, particularly for high-cost activities.
• D) eliminating some cost-producing activities from the value chain, especially low value-added activities.
• E) All of these.

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Definitions:

SWOT Analysis

A strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a business or project.

Product Offerings

The range of products or services that a company makes available to its customers.

Survival Kits

A package containing supplies and tools prepared in advance as an aid to survival in an emergency.

Physical Plant

The tangible facilities, machinery, and infrastructure required for the operation of a business or industry.