Question

A corporation following a _________ emphasizing vertical or horizontal growth would probably want an aggressive new chief executive with a great deal of experience in that particular industry— a dynamic industry expert.

Answer 1

Answer:

concentration strategy

Explanation:

This is an approach in which a business focuses on a single market or product which allows the company to invest more resources in production and marketing in that one area.

Answer 2

Answer:

Concentration Strategy

Explanation:

Concentration strategy refers to an approach which enables a firm to direct it's efforts in the production of a particular product.

Concentration strategy allows firms to become a dominant player in a particular sector of the economy. Firms direct all it's resources to the production of a single product which makes them more efficient in production and enjoy economies of scale.

Firms that practice concentration strategy faces high risk of loss if there is a fall in demand or increase in competition.

There are three concentration strategies:

(1) market penetration

(2) market development

(3) product development