Strategy Formulation and Implementation Is a Challenging Ongoing Process

question 79

Multiple Choice

Strategy formulation and implementation is a challenging ongoing process.To be effective,it should not involve

• A) the CEO and the board of directors.
• B) the board of directors, CEO, and CFO.
• C) rivals.
• D) line and staff managers.

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Definitions:

Opportunity Cost

The financial setback of forgoing the next highly regarded alternative when determining a course of action.

Technological Advance

Improvements and innovations in technology that increase productivity, efficiency, and economic output.

Machine-making Industry

A sector of the economy focused on the manufacturing and maintenance of machines and mechanical equipment.

Production Possibilities Frontier

A portrayal that shows the maximum achievable production levels for two goods, based on a selection of inputs involving resources and extra factors.