The Sum Total of the Activities and Choices Required for the Execution

question 8

Multiple Choice

The sum total of the activities and choices required for the execution of a strategic plan is known as

• A) strategic formulation.
• B) environmental scanning.
• C) strategy implementation.
• D) evaluation and control.
• E) strategic development.

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Definitions:

Government

The organization or system through which a community, state, or nation is governed and regulatory and administrative functions are conducted.

Binding Price Floor

A binding price floor is a government-imposed limit on how low a price can be charged for a product or service, set above the equilibrium price, leading to potential surpluses.

Surplus

The excess of supply over demand in a market, resulting in lower prices.

Shortage

A situation in which demand for a product exceeds its supply in a market.