An organization attempts to gain a competitive advantage by aiming its efforts at driving down its production costs per unit below those of its competitors.This is known as which type of strategy?
A)Focused differentiation strategy
B)Low-cost strategy
C)Related diversification strategy
D)Unrelated diversification strategy
E)Concentration on a single business strategy

Question

Quizplus · Accepted Answer

With a low-cost strategy,managers try to gain a competitive advantage by focusing the energy of all the organization's departments or functions on driving the company's costs down below the costs of its industry rivals.

An Organization Attempts to Gain a Competitive Advantage by Aiming