An overall strategic approach in which a firm seeks to do something that is very different from that of what others in the industry are doing is called a(n)
A)cost-leadership strategy.
B)imitative strategy.
C)grand strategy.
D)innovative strategy.

Question

Quizplus · Accepted Answer

An innovative strategy is one in which a firm seeks to do something very different from others in the industry, introducing new and unique products, processes, or business models that provide a competitive advantage. A cost-leadership strategy involves becoming the low-cost producer in the industry, while an imitative strategy involves copying what others in the industry are doing. A grand strategy refers to the overall strategic direction of the company, which could include any of the above strategies.

An Overall Strategic Approach in Which a Firm Seeks to Do