Strategic Choices Are Generally Limited to Very Experienced Senior Managers

question 21

True/False

Strategic choices are generally limited to very experienced senior managers in large corporations; in smaller and entrepreneurial firms, many employees end up being involved in the strategic management process.

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Definitions:

Consumer Demand

The desire of purchasers, consumers, or buyers for products or services which they are willing and able to buy.

Efficient Market

A market in which prices fully reflect available information and adjust quickly to new data.

Opportunity Costs

The cost of foregoing the next best alternative when making a decision or choice.

Post Hoc, Ergo Propter Hoc

A logical fallacy that suggests that because one event followed another, the first event caused the second.