The Primary Mechanisms Through Which Companies Translate Strategic Plans into Action

question 48

Multiple Choice

The primary mechanisms through which companies translate strategic plans into action are:

• A)Statements of vision and mission.
• B)Operating plans and capital expenditure budgets.
• C)CEO leadership.
• D)Resolutions by the board of directors.

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Definitions:

Private Firms

Businesses that are owned, operated, and managed by private individuals or entities rather than by the government or public.

Consumers

Individuals or groups that purchase goods and services for personal use.

Market System

An economic system where decisions regarding investment, production, and distribution are guided by the price signals created through the forces of supply and demand.

Public Good

A public good is a product or service that is non-excludable and non-rivalrous, meaning it can be consumed by anyone without reducing its availability to others.