Different Types of Business Strategies


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question 1 of 3

Which of the following is the best explanation of a business strategy?

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1. A cost strategy functions by:

2. Why is a differentiation strategy difficult to utilize?

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About This Quiz & Worksheet

Our assessment tools will help you gauge your understanding of the various types of business strategies that can exist. Some of the questions will ask about the best explanation of a business strategy as well as the name of the strategy that involves running a business efficiently to create profits.

Quiz & Worksheet Goals

The quiz/worksheet pairing will assess your knowledge of:

  • The definition of a business strategy
  • The way to employ a cost strategy
  • Particulars of a differentiation strategy
  • What the focus strategy entails

Skills Practiced

  • Defining key concepts - make sure that you can accurately define main terms, such as business strategy
  • Reading comprehension - ensure that you draw the most important information from the related lesson on the types of business strategies
  • Knowledge application - use your knowledge of cost, focus, and differentiation strategies to identify them in given descriptions

Additional Learning

Examine real-world scenarios involving strategies as you study the lesson entitled Different Types of Business Strategies. You will be able to do the following after you finish the material:

  • Define what a business strategy is
  • Describe what a cost strategy involves and its benefits
  • Appreciate how using a differentiated strategy makes for more potential profits
  • Know what a focus strategy seeks to achieve