The Major Avenues for Achieving a Cost Advantage Over Rivals

question 11

Multiple Choice

The major avenues for achieving a cost advantage over rivals include

• A) eliminating or curbing nonessential cost-producing activities and performing essential value chain activities more cost-effectively that rivals.
• B) having a management team that accepts below-market salaries.
• C) being a first mover in adopting the latest state-of-the-art technologies,especially those relating to low-cost manufacture.
• D) outsourcing high-cost activities to offshore vendors.
• E) paying lower wages to hourly workers than what rivals are paying workers.

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Definitions:

Micro-multinational Corporation

A small company that operates in various countries, leveraging technology and globalization to access international markets.

E-commerce Start-up

A business that is initiated on the internet selling goods, services, or both to consumers, operating primarily in the digital ecosystem.

World Economic Forum

An international organization for public-private cooperation that engages business, political, academic, and other leaders of society to shape global, regional, and industry agendas.

Public-private Cooperation

Collaborative partnerships between government entities and private sector companies aimed at achieving mutual goals.