The Greatest and Most Important Differences Among the Competitive Strategies

question 64

Multiple Choice

The greatest and most important differences among the competitive strategies of different companies are essentially

• A)whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation.
• B)the kinds of actions companies take to improve their competitive assets and reduce their competitive liabilities.
• C)the relative emphasis they place on offensive versus defensive strategies.
• D)the different ways the companies try to cope with the five competitive forces.
• E)how they go about building a brand name image that buyers trust and whether they are a risk taker or risk avoider.

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Definitions:

Hand Labor

Work that is performed manually without the use of machines or automated processes.

Process-Focused

An approach that centers on improving and optimizing specific processes within an organization or project.

Repetitive Focus

A manufacturing strategy that involves producing the same product or service repeatedly in order to achieve efficiency and consistency.

Profit (Or Loss)

The financial gain or loss realized by a business, calculated as the difference between revenue and expenses.