Which of the Following Is the Main Purpose of a Strategic

question 45

Multiple Choice

Which of the following is the main purpose of a strategic management process?

• A)Ensuring that all employees have managers and supervisors to lead their teams
• B)Creating an organization that functions systematically according to its vision, mission, and goals
• C)Creating a high-level plan that can be implemented without fierce competition and undue risk
• D)Specifying a high-level plan that an organization will employ to achieve competitive advantage

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Definitions:

Creative Destruction

The process through which new innovations lead to the demise of older technologies or industries, driving economic growth through continuous evolution.

Dominant Firms

Companies that hold a major portion of market share in their industry, influencing market conditions.

New Products

Items that have been recently introduced to the market, offering new features, benefits, or technological advancements.

Marginal Cost

The cost added by producing one additional unit of a product or service, essential for understanding profitability and production efficiency.