A Cultural Explanation of Strategy Development Is

question 4

Multiple Choice

A cultural explanation of strategy development is:

• A) The outcome of negotiation between powerful internal groups
• B) The outcome of an HR programme on managing change
• C) The outcome of taken- for- granted assumptions and behaviours
• D) Development of strategy by experimentation and learning

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Definitions:

Opportunity Cost

The cost of missing out on the next best alternative when making a decision.

Total Output

The total quantity of goods or services produced by a firm or an economy in a specific period.

Comparative Advantage

The ability of a country or individual to produce a good or service at a lower opportunity cost than competitors.

Opportunity Cost

The cost of choosing one option over another, typically expressed as the value of the forgone alternative.