International Business Study Set 5
Quiz 13: The Strategy of International Business
According to Porter,the Way to Create Superior Value Is to Drive
According to Porter,the way to create superior value is to drive down the cost structure of the business and/or differentiate the product in some way so that consumers value it more.
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Diminishing returns imply that when a firm already has significant value built into its product offering,increasing value by a relatively small amount requires significant additional costs.
For a firm,all positions on the efficiency frontier are viable.
The strategy,operations,and organization of a firm must all be consistent with each other if the firm is to attain a competitive advantage and achieve superior profitability.
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