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A Popular Tool Used to Measure the Effectiveness of the Strategic

question 73

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A popular tool used to measure the effectiveness of the strategic management process is the balance scorecard.


Definitions:

Market-Oriented

A business approach that focuses on identifying and meeting the needs and wants of customers through product innovation and adaptation.

Economic Development

Initiatives aimed at improving the economic well-being and quality of life for a community by creating jobs, stabilizing prices, and supporting infrastructure growth.

Communist Political Ideals

A set of beliefs and values that advocate for a classless society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

Corruption

Dishonest or fraudulent conduct by those in power, typically involving bribery or the misuse of authority for personal gain.

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