Describe low-cost strategy
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Assignment: Reflection Paper


Length & Guidelines

Each question must be responded to with around a half-page of text including complete and well-formed sentences. Certain questions will require more or less to fully articulate a response.

Bulleted lists may be included but may not make up the entire answer. When responding to a prompt requiring an article review the response to the review portion must be at least 1 full page. Your response will likely require additional length to provide a quality response.

Please include the questions in your document. Please submit your document to Turnitin prior to submitting it.

Reflection Paper 3

(Refer to Chapters 5, 6, and Case 16 in your Strategic Management texbook on Toyota

Chapter 5 Questions:

1. Describe low-cost strategy. How does this relate to differentiation?

2. Aside from low-cost strategy, describe other methods that businesses can use to differentiate their products.

3. Describe how businesses approach segmenting the market, and why market segmentation could be an attractive business strategy. Why do businesses segment the market? What approaches can be used to segment the market? How can this lead to competitive advantage?

Chapter 6 Questions:

4. Define fragmented and consolidated industries. What are the differences between these two types of industries?

5. What opportunities and advantages do consolidated industries offer that fragmented industries do not?

6. Describe horizontal and vertical integration. Why do businesses leverage these vehicles for growth, and how can they aid in gaining competitive advantage?

Case #16 Toyota: Lean Production and the Rise of the World's Largest Automobile Manufacturer

7. Will Toyota be able to sustain its competitive advantage?

8. What is the basis of Toyota's competitive advantage? Is it imitable?

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