Question 8 Changes made by a business to lower its costs are almost always Process innovation Accounting innovations Product innovations Structural innovations Stitch-Fix is an online clothing retailer, where prices are a little higher than other ready-to-wear clothing retailers. Every customer provides information about their clothing choice preferences: Stitch-Fix's "stylists" then choose clothes that fit the customer's preferences and characteristics. These clothes are then mailed to the customer. This is somewhat different from customers going to store websites and making their own choices. Stitch-Fix's generic strategy is Differentiation, Focus Low-Cost, No Focus Low-Cost, Focus Differentiation, No Focus Moving to another question will save this response. Question 6 of 20 M US 12:44 Question 20 The total sum of capabilities of individuals in an organization is known as Workforce assets Diversity Human capital Social capital Question 19 The Learning Curve, also called the Experience Curve, tracks the reduction in per-unit production costs when sales volumes Stay the same Double Increase Decrease Question 17 Among financial ratios, measures how well/ efficiently assets are being used to generate sales. Debt-to-asset Asset turnover Return on Assets Current ratio Question 16 Which functional strategy for Operations is most appropriate for a business following a Differentiation strategy? a Emphasize innovation and specialization in operations even if it is expensive Emphasize efficiencies through learning and economies of scale Emphasize quality in operations so long as the cost of doing so is relatively low Emphasize benefits through economies of scope