strategic trade-offs that are different between Walmart and Nordstrom even though they are in the same industry. Think of another industry that you know fairly well and select two firms there that also have made very different choices for these trade-offs. Describe some of the differences between these firms. What type of trade-off decisions have these firms made

The answer is given below

Explanation:

Another industry that I know fairly well that also have made very different choices for these strategic trade-offs is a restaurant such as McDonald’s and the Michelin-starred. Even though they are in food industry, it should be noted that their approach is not thesame.

McDonald’s sells cheap, fast foods and typically employs workers who have low skills while Michelin-starred restaurant sells food that are of high quality and also has excellent service. It should also be noted that McDonald's doesn't really place much focus on the experience and the atmosphere while Michelin does.

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