Task: Need to understand the reason behind each questions. Please explain.
Question 1. Which types of strategies are used to implement the growth and competitive strategies of the firm?
a. Focus strategies
b. Generic strategies
c. Functional strategies
d. Corporate Strategies
Question 2. A specialty store that caters to the needs of teenagers by offering designer clothing in a trendy atmosphere is most likely pursuing which types of strategy?
a. Differentiation advantage
b. Learning curve advantage
c. Cost advantage
d. Differentiation combined with cost leadership
Question 3. Direction setting is a major corporate-level strategic management responsibility.
a. True
b. False
Question 4. When are economies of scales most important?
a. When there are more than 100 employees in a firm
b. When the minimum efficient scale to produce the product is large compared to the size of the market
c. When combing dissimilar businesses under common ownership
d. When there is proprietary tech