Strategy Is ________

question 98

Multiple Choice

Strategy is ________.

• A)a quality of executive management that provides inspirational guidance and motivation to personnel, leading the firm to a better future
• B)the pattern of shared values, behavioral norms, systems, policies, and procedures that employees learn and adopt
• C)a planned set of actions that managers employ to make the best use of the firm's resources and core competencies to gain competitive advantage
• D)the procurement of selected value-chain activities, including production of intermediate goods or finished products, from independent suppliers

Identify aspects to consider when selecting a retail location.

Comprehend the implementation and impact of omnichannel retailing.

Understand the role of big data analytics in predicting retail trends.

Recognize the importance of atmospherics in creating a desirable retail space.

---

Definitions:

Finished Goods Inventory

The stock of completed products ready for sale, held at the end of an accounting period.

Net Income

The total earnings of a company after subtracting all expenses from revenues, including taxes and interest.

Administrative Expenses

Costs associated with the general operation of a business, such as office salaries and utilities.

Raw Materials Inventory

The total cost of all the components and materials stored that are to be used in the production of goods.