Q&A Hero

Q: A company's strategic vision describes: A. "who we are and what we do." B. why the company does certain things in trying to please its customers. C. management's storyline of how it intends to make a profit with the chosen strategy. D. management's aspirations for the future and the company's strategic course and long-term direction. E. what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.

Q: The strategy-making, strategy-executing process: A. is usually delegated to members of a company's board of directors. B. includes establishing a company's mission, developing a business model aimed at making the company an industry leader, and crafting a strategy to implement and execute the business model. C. embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions, and new opportunities. D. is principally concerned with sizing up an organization's internal and external situation, so as to be prepared for the challenges of developing a sound business model. E. is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved in the process.

Q: Which of the following are integral parts of the managerial process of crafting and executing strategy? A. Developing a strategic vision, setting objectives, and crafting a strategy B. Developing a proven business model, deciding on the company's strategic intent, and crafting a strategy C. Setting objectives, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage D. Coming up with a statement of the company's mission and purpose, setting objectives, choosing what business approaches to employ, selecting a business model, and monitoring developments E. Deciding on the company's strategic intent, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ

Q: Which of the following is an integral part of the managerial process of crafting and executing strategy? A. Developing a proven business model B. Deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage C. Setting objectives and using them as yardsticks for measuring the company's performance and progress D. Communicating the company's values and code of conduct to all employees E. Deciding on the company's strategic intent

Q: A company's strategic plan: A. maps out the company's history. B. links the company's financial targets to control mechanisms. C. outlines the competitive moves and approaches to be used in achieving the desired business results. D. focuses on offering a more appealing product than rivals. E. lists methods of making money in its chosen business.

Q: Which one of the following is NOT one of the five basic tasks of the strategy-making, strategy-executing process? A. Developing a strategic vision of where the company needs to head and what its future business makeup will be B. Setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company to achieve C. Crafting a strategy to achieve the objectives and get the company where it wants to go D. Developing a profitable business model E. Executing the chosen strategy efficiently and effectively

Q: A fashion magazine plans to cuts down on its fashion-related content and provides the space for high-priced advertisements, but fails to convince giant fashion brands to advertise in the magazine. What do we understand from this failure?

Q: A new entrant in a market uses copycat products at its rival at budget prices. What can you say about this company's long-term success?

Q: A pizza maker manufactures thin-crust pizzas and offers free soft drinks with a pack of four pan pizzas. What can you say about its Value-Price-Cost Framework?

Q: A pen manufacturer sells high-quality pens at a very low price but provides pen-specific low-cost refills at a relatively higher price. Explain this business model.

Q: An established company in a market decides to donate a part of its profits to a children's charity to improve its market image. Soon after it launched a website that offers new clothes, accessories, and books that could be donated to various children's charities by interested parties. The company gained positive publicity and its sales went up. What would you say about this strategy?

Q: A data storage company realizes that its facilities are used most by financial institutions. It capitalizes on the opportunity and starts storing specific financial information only and is now one of the most sought-after financial databases. What strategy has the company employed?

Q: An electronic chip manufacturer has a quarterly release of its products. What can you say about its strategy?

Q: A beauty products giant that manufactures quality makeup products observes a lot of its hits by college students on its makeup tutorials. It opens another sub-brand that provides low-priced makeup services to college partygoers. Which of the five generic strategies has the company used?

Q: A dining facility with multiple branches caters to newlywed couples only. The ambience, special live music arrangements for each couple, and privacy of the dining sections have become a rage among newlyweds. Which of the five generic strategies has the company used?

Q: An automobile company with an established brand name uses a unique assembly line method to reduce the final packaging and fitting procedures cost. It then sells the cars to all customers at a reduced price. Which of the five generic strategies automobile company using?

Q: A laptop manufacturing company acquires a microprocessors manufacturing company to gain a strong market position. Which of the five generic strategies has the laptop manufacturer used to gain competitive advantage?

Q: A well-establisher retail house offers lower-priced commodities to powerful buyers at widespread locations and has loyal suppliers that supply mass goods to the retailer. With fewer ways to achieve differentiation in the market, most other rivals offer similar products but lack sufficient funding to compete against the retail house. Which strategy has the house employed? Explain your answer.

Q: An established organization is fast losing its market share to companies that offer similar products and are upgrading their capabilities to produce better products. List a few general actions and approaches that would help the organization revive its position.

Q: A new entrant in a market dominated by established players introduces itself with copycat products of another competitor. Would this strategy work in the long term for the firm? Justify your answer.

Q: A company's strategy represents a managerial commitment to an integrated array of considered choices about how to compete. This includes the choice about how to capitalize on attractive opportunities to grow the business. Why is opportunity recognition a vital component of the company's strategy?

Q: Good strategy + good strategy execution = good management. True or false? Justify and explain your answer.

Q: Powerful execution of a powerful strategy is a proven recipe for winning in the marketplace. True or false? Explain your answer.

Q: Why is it appropriate to argue that good strategy-making combined with good strategy execution are valid signs of good management?

Q: Why is sustainable competitive advantage so important to a winning business strategy?

Q: How can one tell a winning strategy from a strategy that is mediocre or a loser?

Q: What factors determine whether a strategy can be called a winning strategy?

Q: Explain in detail what a company's business model entails.

Q: Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time, once-and-for-all managerial exercise. Identify at least three factors that account for why company strategies evolve.

Q: Is it more accurate to think of strategy as being "proactive" or as being "reactive"? Why?

Q: Why is a company's strategy partly proactive and partly reactive?

Q: Why does a company's strategy tend to evolve over time?

Q: A company with strong competition in a saturated market decides to wipe out all its products and introduce a fresh line of products in reaction to its falling shares during recession. Would this type of a reactive strategy revive its position? Why or why not?

Q: Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it make whether a company has a sustainable competitive advantage or not?

Q: What is the connection between a company's strategy and its quest for sustainable competitive advantage?

Q: Identify and briefly describe the four most frequently used strategic approaches to achieving a sustainable competitive advantage. Provide examples.

Q: What are the three tests of a winning strategy?

Q: Briefly define each of the following terms.a. Sustainable competitive advantageb. Deliberate strategyc. Emergent strategyd. Realized strategye. Abandoned strategy

Q: What is strategy and why is it important?

Q: A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its falling share prices and invests all its wealth into the deal. Due to a deficit, it agrees to do a joint venture for the acquisition and involves a major automobile giant to fund the deal. After a rocky start, the companies now have a strong market position and generate good profits. Which of the following regarding the company's strategy is true? A. It fails the Performance test. B. It fails the Competitive Advantage and the Fit tests. C. It is a winning strategy. D. It fails in all three tests. E. It fails the Fit test, but passes the Competitive advantage and Performance tests.

Q: What is the foremost question in running a business enterprise? A. What must managers do, and do well, to make a company a winner in the marketplace? B. What can employees do, and do well, to ensure customer satisfaction? C. What can shareholders do, and do well, to ensure a profitable company? D. What do customers do, how to profile customers who buy a company's product, and tailor sales strategy around them? E. What do suppliers do, and how to get supplies at the lowest cost to build a profitable business?

Q: Excellent execution of an excellent strategy is: A. the best test of managerial excellence and the best recipe for making a company a standout performer. B. a solid indication that managers are maximizing profits and looking out for the best interests of shareholders. C. the best test of whether a company is a "true" industry leader. D. the best evidence that managers have a emerging business model. E. the best test of whether a company enjoys sustainable competitive advantage.

Q: The most significant signs of a well-managed company are: A. the eagerness with which executives set stretch financial and strategic objectives and develop an ambitious strategic vision. B. aggressive pursuit of new opportunities and a willingness to change the company's business model whenever circumstances warrant. C. good strategy-making combined with good strategy execution. D. a visionary mission statement and a willingness to pursue offensive strategies rather than defensive strategies. E. a profitable business model and a balanced scorecard approach to measuring the company's performance.

Q: Good strategy combined with good strategy execution: A. offers a surefire guarantee for avoiding periods of weak financial performance. B. is the best sign that a company is a true industry leader. C. is a more important management function than forming a strategic vision combined with setting objectives. D. is the clearest indicator of good management. E. signals that a company has the best business model in a market.

Q: Why are crafting and executing business strategies the foremost tasks of any organization? A. Because they are necessary ingredients of a sound operational business model B. Because a good strategy coupled with a good strategy execution are the most telling signs of good management and allow a company to be a standout performer in the marketplace C. Because the management skills of top executives are sharpened as they work their way through the strategy-making, strategy-executing processes D. Because doing these tasks helps executives develop an appropriate strategic vision, strategic intent, and set of strategic objectives E. Because of the contribution they make to maximizing value for shareholders

Q: Crafting and executing a strategy is a top-priority managerial task because: A. it helps management create tight fits between a company's strategic vision and business model. B. it allows all company personnel, and especially senior executives, to know the answer to "who are we, what do we do, and where are we headed?" C. it is management's prescription for doing business, its roadmap to competitive advantage, a game plan for pleasing customers, and its formula for improving performance. D. it provides clear guidance as to what the company's business model and strategic intent are, and helps keep managerial decision-making from being rudderless. E. it establishes how well executives perform these tasks and are the key determinants of executive compensation.

Q: Which of the following questions tests the merits of the firm's strategy and distinguishes it as a winning strategy? A. Is the company's strategy ethical and socially responsible and does it put enough emphasis on good product quality and good customer service? B. Is the company putting too little emphasis on growth and profitability and too much emphasis on behaving in an ethical and socially responsible manner? C. Is the strategy resulting in the development of additional competitive capabilities? D. Is the strategy helping the company achieve a sustainable competitive advantage and is it resulting in better company performance? E. Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction?

Q: Which of the following questions can be used to distinguish a winning strategy from a mediocre or losing strategy? A. How good is the company's business model? B. Is the company a technology leader? C. Does the company have low prices in comparison to rivals? D. Is the company putting too little emphasis on behaving in an ethical and socially responsible manner? E. How well does the strategy fit the company's situation?

Q: A winning strategy must pass which three tests? A. The Dominant Market Test, the Sustainable Advantage Test, and the Profit Test B. The Fit Test, the Competitive Advantage Test, and the Performance Test C. The Sustainable Performance Test, the Fit Test, and the Profit Test D. The Performance Test, the Dominant Market Test, and the Fit Test E. The Fit Test, the Sustainable Advantage Test, and the Dominant Market Test

Q: A winning strategy is one that: A. builds strategic fit, is socially responsible, and maximizes shareholder wealth. B. is highly profitable and boosts the company's market share. C. fits the company's internal and external situation, builds sustainable competitive advantage, and improves company performance. D. results in a company becoming the dominant industry leader. E. can pass the ethical standards test, the strategic intent test, and the profitability test.

Q: A search engine giant specializes in all types of search items; provides a free translation feature for 80 different languages; allows users to view ads on previously made related searches; provides suggestive search items to assist the user; allows users to view a collation of related web pages users might want to visit; and provides a faster load time and more accurate hits than its rivals. Which of the following is a profit formula used by the company? A. Providing a free translation feature for 80 different languages B. Allowing users to view ads on previously made related searches C. Allowing users to view a collation of related web pages users might want to visit D. Providing a faster load time and more accurate hits than its rivals E. Providing suggestive search items based on history of sites visited

Q: Troopline Inc., an online laptop retailer, sells laptops of similar range and features as other online laptop retailers. Which of the value propositions would NOT benefit the company? A. Providing free delivery of purchased laptops B. Allowing customers to pay through gift coupons C. Updating the site with better high-resolution pictures of laptops D. Providing mobile friendly version of the site and compatible apps for mobile users E. Establishing a comparison feature tab that allows customers to compare offerings from other online retailers

Q: Which of the following pizza firms competing in a crowded market likely offers the best value proposition to its customers, based on the following sales pitches? A. Firm A: "The Tastiest Pizza You've Ever Had." B. Firm B: "Get fresh, hot pizza, delivered under 20 minutes"or it's free." C. Firm C: "Get your pizza at your doorstep"absolutely free delivery, anywhere." D. Firm D: "One pizza, 5 points: to be redeemed with a pan pizza upon reaching 50 points." E. Firm E: "Open you pizza box and find a free gift. Hurry! Free gifts for 100 lucky customers."

Q: A middle-class customer (target) base in a region is most concerned with quality and price of products. Which of the following would be considered a best value proposition for the customers? A. A company that identifies unique features of its products without comparing it with a rival's products B. A company that offers copycat products at low cost but an average quality compared to rivals C. A company that offers the same quality of products as rivals but at a high cost based on greater market share and higher brand value D. A company that provides same quality of products at a much lower price than rivals, but leaves the final assembly of product pieces to customers with an easy assembly guide E. A company that sells an average quality product compared to rivals with a meager difference in price.

Q: A regional electric scooter manufacturer sells its scooter at a lower price than other two-wheeler manufacturers. What will make the product most attractive for customers?A. low profitB. high valueC. high costD. low valueE. low cost

Q: The customer value proposition lays out the company's approach to:A. meeting profitability guidelines without the risk of losing customers.B. operating efficiently given the current level of customers.C. embracing rival company approaches to gaining customers.D. satisfying customer wants and needs at a price customers will consider a good value.E. assuring that the company makes enough profits based on its per-unit cost.

Q: The difference between a company's strategy and a company's business model is that: A. a company's strategy is management's game plan for achieving strategic objectives while its business model is management's game plan for achieving financial objectives. B. the strategy concerns how to compete successfully and the business model concerns how to operate efficiently. C. a company's strategy is management's game plan for realizing the strategic vision, whereas a company's business model is the game plan for accomplishing its corporate responsibility goals. D. strategy relates broadly to a company's competitive moves and business approaches while its business model relates to whether the revenues flowing from the strategy are sufficient to cover costs and realize a profit. E. a company's strategy is solely concerned with how to please customers while its business model is solely concerned with how to please shareholders.

Q: Management's blueprint for how and why the company's business approaches will generate revenues sufficient to cover costs and produce attractive profits and returns on investment: A. best describes what is meant by a company's strategy. B. best describes what is meant by a company's business model. C. accounts for why a company's financial objectives are at the stated level. D. portrays the essence of a company's business purpose or mission. E. is what is meant by the term strategic intent.

Q: Why is it important to craft a business model? A. Because it sets forth management's game plan for maximizing profits for shareholders B. Because it details exactly how management's strategy will result in the achievement of the company's strategic intent C. Because it is a part of an operating model that focuses on delivering excellence and creating value for external shareholders and internal labor force D. Because it sets forth the key components of the enterprise's business approach, indicates how revenues will be generated, and makes a case for why the strategy can deliver value to customers in a profitable manner E. Because it sets forth management's long-term action plan to match the business standards set by formidable rivals

Q: Which of the following is true of a company's business model? A. It zeroes in on the customer value proposition and its related profit formula. B. It explains why the customer value proposition takes precedence over the related profit formula to generate optimum revenues. C. It details the ethical and socially responsible nature of the company's strategy. D. It explains how it intends to achieve the same market position as a rival. E. It is termed a winning model if it passes any one of the three strategy tests.

Q: A company's business model:A. concerns the actions and business approaches that will be used to grow the business, conduct operations, and stake a competitor's market position.B. is management's blueprint for how it will generate revenues sufficient to cover costs and yield an attractive profit.C. concerns what combination of moves in the marketplace it plans to make to outcompete rivals.D. deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible.E. concerns how management plans to pursue strategic objectives, given the larger imperative of meeting or beating its financial performance targets.

Q: A computer chip manufacturing giant decides to outsource its operations to a new geographical location with cheaper labor amidst ongoing labor strikes in a few of its existing locations (due to proposed job cuts). This draws criticism in its new market and affects its current market position and productivity. Which of the following would be an appropriate reactive (emergent) strategy while moving forward? A. Hiring and training new talent to begin operations in the emerging market B. Acquiring a local computer chip marketing and distribution specialist firm in the new location C. Cancelling the idea of outsourcing and retaining the existing the workforce to run operations D. Shifting the existing workforce to the new geographical location and paying them according to new standards E. Cancelling the job cuts till the market situation and entry operations stabilize

Q: A luxury bathtub manufacturer offered scented bubble bath foams and massage coupons as a gimmick when their bathtubs did not sell. Their bubble foam became famous among some women and led to a line of exclusive bath products for women. They established shops in various regional locations and roped in celebrities to market their products to enhance sales. Now its products are sold through retail outlets and online sites throughout the world. Which of the following is accurate? A. Offering scented bubble bath foams and massage coupons was an emergent strategy. B. Creating a sub-brand that offered exclusive bath products for women was an emergent strategy. C. Establishing shops in regional locations was an emergent strategy. D. Roping in celebrities to market their products was an emergent strategy. E. Creating a worldwide presence through retail outlets and online sites was an emergent strategy.

Q: Consider the following three companies and their strategies. Company A is an established database management company that acquires a well-reputed but small publishing house to enter the booming publishing industry. Company B, a sports management house, declared bankruptcy during a recent recession but now has created a television network that airs regional sports events. Company C, a package delivery business, is a startup based on delivery efficiency models created by a few students, and delivers almost all kinds of packages. Which of the following describes the use of strategies by these companies accurately? A. Company B employs an emergent strategy, whereas Companies A and C employ deliberate strategies. B. All three companies employ deliberate strategies. C. All three companies employ emergent strategies. D. Company C employs a deliberate strategy, Companies A and B employ emergent strategy. E. Companies A and C employ emergent strategies, Company B employs a deliberate strategy.

Q: A company's strategy in toto that tends to be a combination of proactive and reactive elements is known as its: A. realized strategy. B. emergent strategy. C. deliberate strategy D. visionary strategy. E. abandoned strategy.

Q: Which of the following firms uses a deliberate strategy?A. A popular downtown theater that has been staging plays decides to begin booking rock and roll acts.B. An airline company cuts frills in order to cope with increasing fuel prices.C. An IT firm trims jobs during a recession.D. A smartphone company divests its tablet production branch after not gaining market share.E. An online jewelry site discontinues its line of turquoise rings due to lack of demand.

Q: Strategy is about competing differently than rivals, thus strategy success is about: A. the sources of sustained advantages and superior profitability. B. those emergent, unplanned, reactive, and adaptive plans that are more appropriate than deliberate or intended ones that drive the realized strategy. C. matching internal resources and capabilities to the industry environment. D. keeping the firm current with the rapid pace of change in the industry. E. replacing proactive and reactive measures by modified ongoing strategic elements to preserve company values.

Q: In the course of crafting a strategy, which of the following is NOT a common management function? A. Abandoning certain strategy elements that have grown stale or become obsolete B. Modifying the current strategy when market and competitive conditions take an unexpected turn or some aspects of the company's strategy hit a stone wall C. Modifying the current strategy in response to the fresh strategic maneuvers of rival firms D. Taking proactive actions to improve this or that piece of the strategy E. Sharing the strategy with the public to gain additional customer and shareholder support

Q: Which one of the following does NOT account for WHY a company's strategy evolves from one version to another? A. A need to promote stability and retain the status quo B. The need to abandon some strategy elements that are no longer working well C. A need to respond to changing customer requirements and expectations D. A need to react to fresh strategic maneuvers on the part of rival firms E. The proactive efforts of company managers to improve obsolete aspects of the strategy

Q: A company's realized strategy evolves from one version to the next due to: A. changing management direction because of understanding several appealing strategy alternatives. B. the proactive efforts of company managers to improve the current strategy, a need to respond to changing customer requirements and expectations, and a need to react to fresh strategic maneuvers on the part of rival firms. C. ongoing turnover in the managerial and executive ranks (new managers often decide to shift to a different strategy). D. pressures from shareholders to boost profit margins and pay higher dividends. E. the importance of keeping the company's business model fresh and up-to-date.

Q: Which of the following statements about a company's strategy is true? A. A company's strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers (so as to catch rival companies by surprise when the strategy is launched). B. A company's strategy is typically planned well in advance and usually deviates little from the planned set of actions and business approaches because of the risks of making on-the-spot changes. C. A company's strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy. D. A company's strategy is typically a blend of proactive and reactive strategy elements. E. A company's strategy is developed mostly on the fly because of the constant efforts of managers to come up with fresh moves to keep the company's product offering clearly different and set apart from the product offerings of rival companies.

Q: Crafting a deliberate strategy involves developing strategy elements that: A. imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage. B. comprise a five-year strategic plan that is then fine-tuned during the remainder of the plan period; big changes in strategy are thus made only once every five years. C. consist of a blend of proactive new planned initiatives plus ongoing strategy elements continued from prior periods. D. deliberately eliminate the ongoing strategic elements and implement new planned initiatives. E. consist of adaptive change plans to new market situations along with abandoned redundant ongoing elements.

Q: It is normal for a company's strategy to end up being: A. a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions. B. a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals. C. a close imitation of the strategy employed by the recognized industry leader. D. a blend of proactive actions to improve the company's competitiveness and financial performance, and adaptive reactions to unanticipated developments and fresh market conditions. E. more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals.

Q: A company's strategy is a "work in progress" and evolves over time because of: A. the importance of developing a fresh strategic plan every year that keeps employees from becoming bored with executing the same strategy year after year. B. the ongoing need to imitate the new strategic moves of the industry leaders. C. the need to make regular adjustments in the company's strategic vision. D. the ongoing need of company managers to react and respond to changing market and competitive conditions. E. the frequent need to modify key elements of the company's business model.

Q: Managers must be prepared to modify their strategy in response to all of the following EXCEPT:A. changing circumstances that affect performance and the desire to improve the current strategy.B. competitor moves in the market and shifting needs of buyers.C. stagnating market and restrictive industrial opportunities.D. mounting evidence that the strategy is less effective.E. public pronouncements from rivals about monthly profit margins.

Q: Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and constantly evaluating what is working result in: A. an assured profitability strategy. B. a broad market entry strategy. C. an emergent strategy. D. unlimited revenue generation. E. a proactive strategy.

Q: Changing circumstances and ongoing managerial efforts to improve the strategy: A. account for Why a Companys Strategy Evolves over Time. B. explain why a company's strategic vision undergoes almost constant change. C. make it very difficult for a company to have concrete strategic objectives. D. make it very hard to know what a company's strategy really is. E. result in abandoned strategic visions.

Q: To which of the following firms is the term "repeatedly evolving strategy" MOST applicable? A. A government agency that makes plans for a set period of time and implements them phase by phase through the tenure B. A mobile company, established in a saturated market, that aims at quarterly release of new products C. A new cosmetics manufacturer in a market that replicates the products of a competitor at a moderate quality and lower price D. A nationalized bank that lends at a lower interest rate but a zero processing fee in a market crowded with privatized banks running at high cost E. A firearms regulatory agency, set up by the government, that publishes industry standards for safety, reliability, and quality of arms and ammunition

Q: Which of the following is NOT typically a trigger to an evolving strategy? A. The need to keep strategy in step with changing circumstances, market conditions, and changing customer needs and expectations B. The proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy C. The need to abandon some strategy features that are no longer working well D. The need to respond to the newly initiated actions and competitive moves of rival firms E. The need to respond to short-term swings in the stock market

Q: Giving customers more value for the money by satisfying their expectations on key quality features, performance, and/or service attributes while beating their price expectations is a: A. best-cost provider strategy. B. focused low-cost strategy. C. focused differentiation strategy. D. broad differentiation strategy. E. low-cost provider strategy.