Which of the Following Best Describes a Strategy

question 8

Multiple Choice

Which of the following best describes a strategy?

• A) It is a comprehensive plan guiding resource allocation to achieve long-term organization goals.
• B) It is the same as the mission of the organization.
• C) It is the document expressing the organization's reason for existence in society.
• D) It is the predominant value system of the organization as a whole.
• E) It is a special strength that gives an organization a competitive advantage.

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Definitions:

Return on Investment

A financial metric used to evaluate the efficiency or profitability of an investment, calculated by dividing the profit gained from an investment by the cost of the investment.

Selling Price

The amount a customer pays to purchase a product or service, determined by various factors including cost, competition, and demand.

Target Costing

A pricing method that starts with a market-based price point and then deduces the allowable cost to maintain profitability.

Return on Investment

A financial metric used to evaluate the efficiency or profitability of an investment, calculated as a percentage of the investment's return relative to its cost.