A Cost Leadership Strategy Is Based on an Organization's Ability

question 54

True/False

A cost leadership strategy is based on an organization's ability to provide a product or service at a lower cost than its rivals.

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Definitions:

Law of Effect

A principle in psychology stating that responses closely followed by satisfaction will become firmly attached to the situation and therefore more likely to recur in similar situations.

Spontaneous Recovery

The reappearance of a conditioned response after a period of lessened response.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, which are used to either increase or decrease the likelihood of a behavior repeating.

Classical Conditioning

A training technique characterized by the recurrent pairing of two cues, leading to an outcome where the first cue alone can elicit a response initially caused by the second cue.