What Is a Strategic Decision and What Are Its Three

question 94

Essay

What is a strategic decision and what are its three characteristics?

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Definitions:

Organizational Buying Behavior

The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers.

Industrial Espionage

The act of illegally and clandestinely obtaining confidential business information about a competitor for a competitive advantage.

Derived Demand

This refers to the demand for a good or service that arises from the demand for another good or service.

Industrial Products

are goods used in the production of other goods or services, including raw materials, machinery, and equipment, as opposed to consumer products.