Collecting and Evaluating Information on Competitors Is Essential for Successful

question 48

Multiple Choice

Collecting and evaluating information on competitors is essential for successful

• A)strategy evaluation.
• B)strategy implementation.
• C)internal analysis.
• D)strategy management.
• E)strategy formulation.

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Definitions:

Framework Agreement

A long-term agreement with suppliers that sets out terms and conditions under which specific purchases (calls-offs) can be made throughout the term.

Direct Authority

Authority given to an individual within an organization where they have the power to make decisions and expect those decisions to be followed.

Express Authority

Legal power explicitly granted to an individual or organization to perform certain actions or make decisions.

Apparent Authority

Refers to a situation where a third party reasonably believes an agent has the authority to act on behalf of a principal, even if the agent does not have such authority.