Question: Michael Porter argues that Multiple Choice it is necessary for a firm to have the lowest cost structure or create the most valuable product. standardization

Michael Porter argues that Multiple Choice it is necessary for a firm to have the lowest cost structure or create the most valuable product. standardization of product is a basic strategy for attaining a competitive advantage in an industry. it is important that the gap between value and the cost of production be smaller than that of competitors. those firms that create superior value will achieve superior profitability

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