Under a delegated arrangement, partner firms are highly involved in the day-to-day operations of the venture

Strategic control includes ________.

a. seldom making adjustments to a strategy b. developing a diversity plan c. monitoring the execution of strategy and making adjustments, if necessary d. implementing MBO e. a strong employee diversity and synergy agenda

A low-cost provider's basis for competitive advantage is:

a. using an everyday low pricing strategy to gain the biggest market share. b. larger profit margins than rival firms'. c. high buyer switching costs because of the company's differentiated product offering. d. meaningfully lower costs than competitors' but not necessarily the absolutely lowest cost/price. e. a reputation for charging the lowest prices in the industry.