Question

Both cost leadership and differentiation firms can improve on execution through:

Answer 1

Correct answer is : Benchmarking and total quality management

Cost leadership is is a competitive advantage where goods and services offered at lower prices than of Industry whereas, under differentiation different and unique category of goods and services offered are offered than of market. The both types of firm can improve execution through Bench marking and total quality management, Benchmarking means to compare the results and total quality management means quality to be maintained in every stage of production.