An Incentive

question 72

Multiple Choice

An incentive

• A)could be a reward but could not be a penalty.
• B)could be a penalty but could not be a reward.
• C)could be either a reward or a penalty.
• D)is the opposite of a tradeoff.
• E)occurs in the macroeconomy but not in the microeconomy.

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Definitions:

Competitive Strategy

The plan that a company follows to differentiate itself from competitors, aiming to achieve a competitive advantage.

Corporate Strategy

The overall plan and direction of a company, focusing on achieving long-term objectives and competitive advantage.

Functional Strategy

A specific, focused plan aimed at achieving objectives and improving performance within a particular department or function of an organization.

Functional Strategy

A specific, detailed plan tailored to a department or unit within an organization, aimed at achieving the broader corporate strategies and goals.