Business Strategy and Competitiveness: Key Concepts and Strategies. An overview of critical factors and strategies for business success.

Question 1

What is a critical factor in developing a business strategy that focuses on the business goal?

Accepted Answer

Mission

Question 2

What does competitiveness measure in an organization?

Accepted Answer

Meeting customer wants and needs

Question 3

When does the operations strategy of a business get developed?

Accepted Answer

After the business strategy

Question 4

Which type of strategy focuses on selling products at a low price to compete effectively?

Accepted Answer

Cost leadership strategy

Question 5

What does an order winner for an organization's goods or services do?

Accepted Answer

Causes it to be perceived as better than the competition

Question 6

What is the ratio between outputs and inputs called?

Accepted Answer

Productivity

Question 7

Which type of strategy focuses on reducing the time needed to accomplish tasks?

Accepted Answer

Time-based strategy

Question 8

What does a quality strategy focus on?

Accepted Answer

Producing and selling high-quality goods and services

Question 9

What is the purpose of eco-friendly products strategy?

Accepted Answer

To reduce pollution and waste

Question 10

What are the characteristics that customers perceive as minimum standards of acceptability called?

Accepted Answer

Order qualifiers