Strategic Cost Management Lecture Quiz

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5 Questions

What is the essence of strategy according to the text?

Creating a reason for customers to choose the company over competitors

What does 'customer intimacy' as a customer value proposition imply?

Understanding and responding to individual needs better than competitors

What is the focal point of a company's strategy?

Target customers

What is involved in the activity of directing and motivating according to the text?

Mobilizing people to carry out plans and run routine operations

What are the three broad categories into which customer value propositions tend to fall according to the text?

Customer intimacy, operational excellence, product leadership

Test your understanding of the concept of strategy in strategic cost management. Learn about the importance of having a viable strategy for global competition and how companies can distinguish themselves from competitors by attracting target customers.

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