When Using A(n) _______________ Strategy, a Firm Seeks to Find

question 43

Short Answer

When using a(n) _______________ strategy, a firm seeks to find new ways of producing or distributing its products and services that are so different from the way business has been conducted that they may alter the fundamental structure of the industry.

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Definitions:

Quantitative Approach

A research approach centered on measuring and statistically analyzing data collection and interpretation.

Profit Margins

A financial metric that measures the percentage of revenue that exceeds the costs of producing goods or services.

Open System

An open system is a system that continuously interacts with its environment, exchanging information, matter, and energy.

Theory X

A management concept that assumes employees are naturally unmotivated and dislike work, needing constant supervision and control.