Untitled Quiz

<p>Net demand (A)</p> Signup and view all the answers

<p>Decisions about recruitment and training (B)</p> Signup and view all the answers

<p>To gain a competitive advantage by exploiting core competencies. (C)</p> Signup and view all the answers

<p>The firm competes in many customer segments. (B)</p> Signup and view all the answers

<p>Low cost and differentiation. (D)</p> Signup and view all the answers

<p>To provide a framework for IT-related initiatives that support the firm's goals. (D)</p> Signup and view all the answers

<p>Possessing unique product features that allow for premium pricing. (B)</p> Signup and view all the answers

<p>They typically earn low margins but achieve high sales volumes. (A)</p> Signup and view all the answers

<p>To create unique products that fulfill valued customer needs. (D)</p> Signup and view all the answers

<p>They concentrate on specific segments or geographic markets. (C)</p> Signup and view all the answers

<p>Having cost advantages in a targeted segment. (A)</p> Signup and view all the answers

<p>Reduced costs as production volume increases. (A)</p> Signup and view all the answers

<p>It is defined by a homogeneous group of activities sharing similar technologies. (B)</p> Signup and view all the answers

<p>It determines how to compete in a specific market while addressing customer needs. (B)</p> Signup and view all the answers

<p>They provide a framework for understanding competitive dynamics and can lead to above-average returns. (B)</p> Signup and view all the answers

<p>Over-dependence on singular market segments without diversification. (D)</p> Signup and view all the answers

<p>Understanding customers informs the who, what, and how of business-level strategies. (B)</p> Signup and view all the answers

A distinct part of a multi-business company, focused on a specific market or markets with its own vision, mission, and objectives. It operates with independent strategies that are separate from other SBUs within the company.

Different levels of strategy that influence an organization's overall direction, from the most encompassing (corporate) to specific details within different business units (functional).

Strategic decisions that affect the entire organization, encompassing overall direction and goals.

Strategic decisions that focus on how a company competes in a specific market or industry to achieve competitive advantage. It involves choosing the right customer segment, product/service offerings, and competitive approach.

Detailed strategies implemented within each functional area of a business unit, like operations, marketing, human resources, finance, and research & development.

Deciding what business to be in, what market to serve, resource allocation, mergers and acquisitions - all fall under corporate strategy.

This includes choosing funding sources, managing the company's own funds, and overall financial planning.

This involves decisions about recruiting, organizing, and managing employees, including compensation, training, and organizational structure.

A favorable position a company holds over its competitors which allows it to gain and retain customers and outperform them in the marketplace.

A strategy where a company aims to have the lowest production and distribution costs in its industry, enabling it to offer the most competitive prices.

A strategy where a company distinguishes its products or services from competitors in ways that customers value and are willing to pay a premium for.

A strategy where a company targets a wide range of customer segments in a market.

A strategy where a company focuses on a specific niche or segment of the market, tailoring its offerings to their particular needs.

A strategy where a company aims to produce goods or services at the lowest cost compared to its competitors, while still maintaining acceptable quality for customers.

A strategy where a company aims to create a unique product or service that is distinct from its competitors, focusing on aspects that customers value.

A strategy where a company concentrates on a specific market segment, either through cost leadership or differentiation.

A type of focused strategy where a company aims to be the lowest-cost producer within a particular market segment.

Apple chooses to manufacture its products in China due to lower labor costs, readily available skilled workforce, and established supply chains. This allows them to maintain costs while still offering differentiated products.