Select the most appropriate definition of differentiation in relation to strategy.Select one:a. A strategy that seeks to mimic or copy other products/services and sell them at a lower costthan competitors.O b. A strategy that seeks to mimic or copy other products/services and sell them at a higher costthan competitors.O c.A strategy that seeks to provide a unique or significantly dissimilar product/service thancompetitors at the lowest market cost.Od. A strategy that seeks to create products/services that are unique or significantly dissimilar tocompetitors, so they are highly desirable to customers. What might the common risks associated with cost leadership strategies be?Select one or more:a. A company's cost advantages can be adopted or copied by competitorsb.Investing in production technology to lower overall production costs could lead to a large short-term increase in overall costsc. Reducing staff costs can lead to a de-motivated workforce susceptible to being recruited byrivalsd. As a business grows it can increase in complexity which could be associated with higher costs

Strategy can be defined as knowledge of goals, uncertainty of events and actual behavior of others.

Answered: Select the most appropriate definition…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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