A "Best Practice" Refers to a

question 3

Multiple Choice

A "best practice" refers to a

• A)policy or procedure that is unusually effective.
• B)method of performing an activity or business process that consistently delivers superior results compared to other approaches and that at least one company has demonstrated works particularly well in terms of delivering operating excellence.
• C)strategy-critical activity that results in sustainable competitive advantage.
• D)value chain activity that is a company's distinctive competence.
• E)particular value chain activity that management has given top priority to performing in world-class fashion.

---

Definitions:

Cooperative Strategy

A method where businesses or organizations work together towards mutual goals, often leading to synergies and competitive advantages.

Joint Ventures

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Strategic Alliance

A long-term partnership between two or more organizations to pursue a set of agreed upon objectives while remaining independent organizations.

Organizational Cultures

The shared values, beliefs, and practices that influence how people behave in organizations.