Which of the following are two strategies that a company can use to gain a competitive advantage?
A) Customer orientation strategy and operational effectiveness strategy
B) Protection strategy and innovation strategy
C) Mass customization strategy and cost leadership strategy
D) Compliance strategy and innovation strategy

Question

Quizplus · Accepted Answer

Customer orientation strategy focuses on understanding and meeting the needs and wants of customers better than competitors, while operational effectiveness strategy involves improving efficiency and productivity to reduce costs and improve quality. By combining these two strategies, a company can create a competitive advantage by delivering superior value to customers at a lower cost. Option B is incorrect because protection strategy does not help a company gain a competitive advantage as it involves protecting existing market share rather than growing it. Option C is incorrect because mass customization strategy and cost leadership strategy are not mutually exclusive and can be combined to create a competitive advantage, but they are not the only strategies available. Option D is incorrect because compliance strategy is necessary for legal and ethical reasons, but it does not help a company gain a competitive advantage.

Which of the Following Are Two Strategies That a Company