a)When a firm makes changes to its value chain, it is:

putting a new or modified strategy into action.

competing on price.

grounding itself in a strategic inversion.

flirting with disaster.

initiating the Five Forces.

b) Horizontal integration through merger can allow a firm to:

Achieve economies of scale.

Access an untapped market.

Acquire new technology.

All of the above.

None of the above

c) Which of the following is NOT one of the differences between a Low-Cost strategy and a Differentiation strategy?

Firms using a Low-Cost strategy often invest in process improvements while firms using a Differentiation strategy often invest in product improvements.

The Differentiation strategy calls for firms to build a product line that emphasizes product features, services, and variety.

The Low-Cost strategy calls for firms to cut out features and services that buyers don't value highly.

The Differentiation Strategy differentiates a firm from its rivals and a Low-Cost strategy does not.

Firms using a Low-Cost strategy generally rely on higher-volume output to attain profitability than do firms using a Differentiation strategy.