Business Strategy and Competitiveness: Key Factors and Strategies Explained in Quiz Questions.

Question 1

What are the three critical factors in developing a business strategy?

Accepted Answer

Business goal, market understanding, company strengths

Question 2

What is competitiveness in business?

Accepted Answer

How effectively an organization meets customer needs compared to others

Question 3

What is operations strategy focused on?

Accepted Answer

Design and management of operations functions

Question 4

What is a price or cost strategy used for?

Accepted Answer

Selling products at a low price

Question 5

What is a quality strategy focused on?

Accepted Answer

Producing high-quality goods and services

Question 6

What is the purpose of eco-friendly products strategy?

Accepted Answer

To reduce pollution and waste

Question 7

What are order qualifiers in production strategies?

Accepted Answer

Minimum standards of acceptability for customers

Question 8

What is productivity in business?

Accepted Answer

Ratio between outputs and inputs

Question 9

What is productivity growth formula?

Accepted Answer

Current Period Productivity - Previous Period Productivity / Previous Period Productivity

Question 10

What are the types of production strategies mentioned?

Accepted Answer

Business strategies, competition priorities, competition advantages