Question

cost reductions stemming from strategic fit along the value chains of related businesses can result in multiple choice economies of scope. economies of scale. related diversification. unrelated diversification. cross-business strategic fits.

Answer 1

Economies of scope may emerge from cost reductions due to strategic fit along the value chains of associated enterprises.

A strategy is a plan of action used by businesses to accomplish their long-term objectives. To put it another way, it is a long-term strategy that businesses adopt to achieve their goals. It entails a set of actions that follow a pattern and aim to accomplish a company's objectives. Long-term, it aids in adapting its operations, resources, and scope to external developments.

For a variety of business sectors, companies establish strategies. They can adopt a forward-thinking strategy with the help of these techniques. Additionally, it enables businesses to employ their resources more effectively. Strategies are essential for giving a business direction and goal.

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