Organizations following a(n) strategy try to both minimize risk and maximize oppurtunity for profit, moving into new products or new markets only after innovators have proven their viability

Imitation.

Explanation:

Organizations following an imitation strategy try to both minimize risk and maximize opportunity for profit, moving into new products or new markets only after innovators have proven their viability. Imitation strategy is one the most effective way of saving your time, energy and money. It is known as the low-cost strategy as well particularly when the option of choosing and selecting is too difficult or costly. This strategy has been widely and successfully used by many well-renowned brands, for example, Coca Cola, once has imitated RC Cola when they replicated their diet cola options, McDonald's has taken the idea of fast food chin from the White Castle.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

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