All of the Following Are Steps Involved in the Strategic

question 79

Multiple Choice

All of the following are steps involved in the strategic management process EXCEPT ________.

• A)evaluating the firm's internal and external situation
• B)defining the business and developing a mission
• C)crafting a course of action
• D)offshoring low-skill jobs

---

Definitions:

Economic Profit

The financial measurement between a company's aggregate earnings and its total costs, covering both explicit and hidden charges.

Output Level

The quantity of goods or services produced by a firm or economy in a certain period.

Nondiscriminating

A principle or practice that ensures equal treatment and opportunities for all, without biases or prejudices based on irrelevant characteristics.

Pure Monopolist

A single seller in a market with no close substitutes for its product, dictating the market terms and prices.