The major avenues for achieving a cost advantage over rivals include
A. being a first-mover in adopting the latest state-of-the-art technologies, especially those relating to low-cost manufacture.
B. having a management team that is highly skilled in cutting costs.
C. performing value chain activities more cost-effectively than rivals or revamping the firm's overall value chain to eliminate or bypass some cost-producing activities.
D. outsourcing high-cost activities to cost-efficient vendors.
E. paying lower wages and salaries than rivals.
Answer: C
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