Determining the Strategic Direction of a Firm Involves

question 46

Multiple Choice

Determining the strategic direction of a firm involves:

• A) implementation of a balanced scorecard.
• B) developing an entrepreneurial mind set.
• C) specifying the vision and the strategy to achieve that vision over time.
• D) exploiting and maintaining core competencies.

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Definitions:

Reserve Ratio

The reserve ratio is the fraction of depositors' balances banks must have on hand as cash, a regulatory requirement set by central banks.

National Charters

Official permissions granted by a government allowing the creation or operation of national banks and defining their powers.

Banking

The business conducted or services offered by a bank, such as lending, receiving deposits, and managing financial transactions.

Traveler's Checks

Traveler's Checks are preprinted, fixed-amount checks designed to allow the person signing them to make payments or exchange them for cash while traveling, offering a secure alternative to carrying cash.