Achieving a cost advantage over rivals entails
A) concentrating on the primary activities portion of the value chain and outsourcing all support activities.
B) being a first mover in pursuing backward and forward integration,and controlling as much of the industry value chain as possible.
C) performing value chain activities more cost-effectively than rivals and finding ways to eliminate or bypass some cost-producing activities.
D) minimizing R&D expenses and paying below-average wages and salaries to conserve on labor costs.
E) producing a standard product,redesigning the product infrequently,and having minimal advertising.

Question

Quizplus · Accepted Answer

Achieving a cost advantage over rivals involves performing value chain activities more cost-effectively than competitors and finding ways to eliminate or bypass some cost-producing activities. This could involve streamlining operations, improving supply chain management, reducing material costs, and other initiatives that help keep costs down without sacrificing quality or customer value. Choices A, B, D, and E are not comprehensive approaches to achieving a cost advantage and may not be effective in all industries or markets.

Achieving a Cost Advantage Over Rivals Entails