What are the key questions managers must answer to formulate an appropriate business-level strategy?
What will be an ideal response?
Business-level strategy details the goal-directed actions managers take in their quest for competitive advantage when competing in a single product market. It may involve a single product or a group of similar products that use the same distribution channel. It concerns the broad question, "How should we compete?" To formulate an appropriate business-level strategy, managers must answer the "who-what-why-and-how" questions of competition:
Who-which customer segments-will we serve?
What customer needs, wishes, and desires will we satisfy?
Why do we want to satisfy them?
How will we satisfy our customers' needs?
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Which of the following statements best describes the phenomenon called risky shift?
A. A corporation shifts its risk onto its customers. B. Groups do not accept higher risks than individuals. C. A group of people who must reach a consensus on an acceptable level of risk often decide on a level of risk higher than the risk they would accept as individuals. D. The decisions made by a team of managers may have lower levels of risk and may create lesser legal problems than decisions made by an isolated manager.
Forever Jewelers uses the gross method and a perpetual inventory system. On April 2, Forever sold merchandise with a cost of $1,400 for $5,400 to a customer on account with terms of 1/15, n/30. Which of the following journal entries correctly records the sales revenue?
Bonds that are unsecured and simply backed by the good name of the issuing company are known as:
a. indentures b. debentures c. junk bonds d. serial bonds e. sinking funds
Which of the following is sometimes argued to be the beginning of today's strategic human resource management and high performance workplaces?
A. Industrial unionism. B. Syndicalism. C. Welfare capitalism. D. General unionism.