Explain differentiation, as proposed by Michael Porter as a generic strategy, to provide a starting point for a
company's overall strategic approach to the market.
What will be an ideal response?
In the differentiation generic strategy, companies with competitive advantages in design can create products or
services clearly superior and different to those of competitors to differentiate their firm from others. Customers
must be able to acknowledge the difference and pay a premium for it.
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Omitting key letters in the work sheet would make which of the following difficult?
a. The preparation of the financial statements b. The preparation of the closing entries c. The preparation of the adjusting entries d. Crossfooting to the next set of columns
________ are the rewards given to a person by the boss, the company, or some other person.
A. Hygiene factors B. Personalized powers C. Extrinsic rewards D. Halo effects E. Procedural justices
A company has the choice of either selling 1,000 unfinished units as is or completing them. The company could sell the unfinished units as is for $4.00 per unit. Alternatively, it could complete the units with incremental costs of $1.00 per unit for direct materials, $2.00 per unit for direct labor, and $1.50 per unit for overhead, and then sell the completed units for $8.00 each. If the company completes the units, what is the impact on income?
A. Income will decrease by $500. B. Income will increase by $500. C. Income will increase by $4,000. D. Income will increase by $8,000. E. Income will decrease by $4,500.
Which of the following statements concerning an unpaid supplier of goods to a bankruptcy business is correct?
A) An unpaid supplier has a right to take back all goods that have not been paid for. B) An unpaid supplier of goods is a secured creditor to the extent of the value of the goods not paid for. C) An unpaid supplier of goods is an unsecured creditor. D) A supplier can repossess all goods supplied but not paid for under a purchase money security interest registered under a Personal Property Security Act. E) Both C and D