What Is the First Step of Strategy Development If a Firm

question 5

Multiple Choice

What is the first step of strategy development if a firm follows a resource-based view?

• A) targeting profitable market segments
• B) analyzing the firm's strengths and weaknesses
• C) assessing the company's external environment
• D) identifying sustainable competitive advantages

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Definitions:

Affective Organizational Commitment

The emotional attachment and identification that an employee has towards their organization, influencing their desire to remain part of it.

Emotional Attachment

The affective bond or connection one develops with an object, individual, or concept, often leading to feelings of closeness or personal significance.

Identification

The process of associating oneself with certain groups, ideas, or qualities, leading to a sense of belonging or alignment with those entities.

Involvement

The degree of engagement and participation an individual or group has in a particular activity or context.