Which Strategy for Competitive Advantage Involves Improving the Manner in Which

question 48

Multiple Choice

Which strategy for competitive advantage involves improving the manner in which an organization executes its internal business processes?

• A) cost leadership
• B) differentiation
• C) innovation
• D) operational effectiveness
• E) customer-orientation

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Definitions:

Prices

The amount of money required to purchase goods or services, typically set by supply and demand dynamics in the market.

Scarce Resources

Refers to the limited availability of resources that are used for the production of goods and services.

Classified Ads

Short advertisements placed in a bulletin, newspaper, or online platform, categorized by the type of product, service, or job offered.

Market

A market is a place or mechanism where buyers and sellers interact to trade goods, services, or financial instruments.