Strategy Pertains to the General Direction in Which an Organization

question 22

True/False

Strategy pertains to the general direction in which an organization plans to move to achieve its goals and objectives.

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Definitions:

High Supplier Power

A market condition where suppliers have significant influence over the market price and terms of products because of the lack of competition or alternatives.

Threat from Substitutes

The risk that alternative products or services may satisfy the same customer needs, potentially reducing demand for the current product.

Levels of Rivalry

Refers to the intensity of competition between firms in a market, ranging from monopolistic to perfectly competitive scenarios.

RBV Perspective

Resource-Based View (RBV) refers to a method of analyzing and identifying a firm's strategic advantages based on its internal resources and capabilities.