One of Porter's Generic Business Strategies That Involves Controlling Expenses

question 101

Multiple Choice

One of Porter's generic business strategies that involves controlling expenses and,in turn,lowering product prices targeted at a narrow range of markets segments is referred to as a ________ strategy.

• A)cost focus
• B)cost leadership focus
• C)differentiation focus
• D)differentiation
• E)profit enhancement

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Definitions:

Consensus

A general agreement or the process of reaching such an agreement within a group, emphasizing collaborative decision-making.

Innovation

Generation of new and usable ideas; an important element of leadership performance. See creativity.

Usable Ideas

Pertains to concepts or proposals that can be effectively implemented or applied in practical scenarios.

Growth Through Coordination

Enhancing organizational performance and capabilities by effectively managing and harmonizing interrelated tasks and functions.