Before Spending Valuable Time and Resources to Implement a Strategic

question 78

Multiple Choice

Before spending valuable time and resources to implement a strategic plan, salespeople must:

• A) establish priorities in the form of objectives.
• B) select a technology that they will use to achieve their targets.
• C) engage in customer relationship management.
• D) maximize the effectiveness of the selected resources.
• E) conduct assessment activities to measure performance.

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Definitions:

Business Strategy

Deals with how the firm will compete in each market where it conducts business.

Retrenchment

The act of reducing costs or spending in response to economic difficulty, often involving layoffs or downsizing of an organization.

Prospector Strategy

A business approach focused on innovation, seeking out new markets and opportunities, characterized by flexibility and a readiness to adapt to changing environments.

Artistic Risks

The undertaking of new, unconventional, or controversial projects or ideas in the realm of art, challenging established norms and potentially leading to innovative breakthroughs.