What type of strategy is used by a firm that focuses on what it does best within established markets?

Question

Quizplus · Accepted Answer

The strategy of focusing on what the firm does best within established markets is known as concentration. This involves narrowing the focus of the company and utilizing their strengths to achieve greater success. It does not involve expanding into new markets or diversifying the product line, which would fall under external growth or internal growth strategies, respectively. Divestment refers to the selling off of business units that are not performing well. Therefore, the correct option is A) Concentration.

What Type of Strategy Is Used by a Firm That