Achieving a Cost Advantage Over Its Rivals Entails

question 4

Multiple Choice

Achieving a cost advantage over its 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 its 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:

Life Expectancy

The average number of years an individual or population is expected to live, based on statistical averages and influenced by factors such as healthcare, lifestyle, and socio-economic status.

Dangerous Occupation

A job or profession that poses a high risk of harm or injury to the individuals performing it.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment, poverty, low prices, and low levels of trade and investment.

Comfortably

In a way that provides ease, relaxation, or a lack of hardship.