Michael Porter's Generic Strategies Model Identifies Four Fundamental Strategies: Differentiation,cost

question 238

True/False

Michael Porter's generic strategies model identifies four fundamental strategies: differentiation,cost leadership,focused differentiation,and focused cost leadership.

Acknowledge the significance of digital dossiers and online tracking technologies in consumer behavior analysis.

Recognize the privacy concerns associated with technology use and data collection.

Understand the application and impact of biometric data and facial recognition technology in policing.

Identify ethical issues surrounding the use of information and technology in surveillance and data collection.

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Definitions:

Post-Closing Trial Balance

A list of all accounts remaining after closing entries have been made, showing the balances ready for the next accounting period.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.

Unadjusted Trial Balance

A preliminary list of all accounts and their balances before any adjusting entries are made, used to verify the equality of debits and credits.

Closing Entry

A closing entry is an accounting action that transfers the balances of temporary accounts to permanent accounts, thereby resetting the temporary accounts to zero for the start of the next accounting period.