"We Are the Only Gas Station in Town Where You

question 104

Multiple Choice

"We are the only gas station in town where you can get a free car wash with a $20 or more purchase of gas." This statement is best described by which part of the strategic management process?

• A) analyze the environment
• B) vision
• C) mission
• D) goal
• E) strategy
• F) value
• G) core competence

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Definitions:

Price

The price one must pay to secure a product or service.

Controlling

A management function focused on monitoring performance and taking corrective action to ensure achievement of organizational goals.

Allocating Resources

The process of distributing available assets, including time, money, and manpower, among various projects or departments to achieve organizational goals efficiently.

Performance Measurement

The process of evaluating the efficiency and effectiveness of actions or operations within an organization.