The Five Basic Tasks of the Strategy-Making, Strategy-Executing Process DO

question 74

Multiple Choice

The five basic tasks of the strategy-making, strategy-executing process DO NOT include

• A)developing a strategic vision of where the company needs to head and what its future business makeup will be.
• B)strategic management to convert the strategic vision into specific strategic and financial performance outcomes for the company to achieve.
• C)crafting a strategy to achieve the objectives and get the company where it wants to go.
• D)developing a profitable business model.
• E)executing the chosen strategy efficiently and effectively.

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Definitions:

Economic Order Quantity

A formula used to determine the most efficient quantity to order to minimize the costs associated with buying, holding and stockout.

Carrying Costs

Expenses associated with holding or maintaining an inventory, including storage, insurance, and taxes.

Fixed Costs

Expenses that do not change in total regardless of the level of production or sales activity.

Child's Toy

Any item designed for use in play by children, often to provide entertainment while also encouraging learning and development.