The Managerial Task of Developing a Strategic Vision for a Company

question 36

Multiple Choice

The managerial task of developing a strategic vision for a company

• A)concerns deciding what approach the company should take to implement and execute its business model.
• B)entails coming up with a fairly specific answer to "who are we, what do we do, and why are we here?"
• C)is chiefly concerned with addressing what a company needs to do to successfully outcompete rivals in the marketplace.
• D)involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional path makes good business sense.
• E)entails coming up with a concrete plan for how the company intends to make money.

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Definitions:

Great Depression

A severe worldwide economic downturn that lasted throughout the 1930s, marked by widespread unemployment, deflation, and a significant drop in global trade and output.

Annually Balancing

The process of adjusting or reconciling financial accounts or budgets to match or balance over a one-year period.

Cyclically Balanced Budget

A fiscal strategy where the government aims to balance its budget over the complete economic cycle, accumulating surpluses in boom periods and deficits during recessions.

Budget Deficits

A financial situation where a government's expenditures surpass its revenues.