The strategy in which managers try to gain a competitive advantage by focusing the energy of all the organization's departments or functions on driving the organization's costs down below the costs of its rivals is called:
A)Concentration on a single industry
B)Diversification
C)Cost leadership
D)International expansion
E)Vertical integration

Question

Quizplus · Accepted Answer

Cost leadership is a strategy where managers focus on reducing costs across all departments to gain a competitive advantage by offering lower prices than competitors.

The Strategy in Which Managers Try to Gain a Competitive