The Development of Strategies to Exploit Opportunities and Manage Threats

question 55

Multiple Choice

The development of strategies to exploit opportunities and manage threats in the business environment in light of corporate strengths and weaknesses best defines

• A) strategy alignment.
• B) strategy formulation.
• C) strategy initiation.
• D) strategy completion.

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Definitions:

Centralization

The accumulation of decision-making power at the uppermost tiers of an organization's structure.

Purchasing

The process of obtaining goods or services, typically for business purposes.

Supply Chain Management

The supervision and management of materials, data, and monetary resources as they transition from the supplier, through the manufacturer and wholesaler phases, ultimately reaching the retailer and consumer.

On-time Availability

The state or characteristic of being ready for use or accessible exactly when needed or promised.