Business Strategy Defines

question 40

Multiple Choice

Business strategy defines

• A)the way a firm competes in a particular industry or market.
• B)how a firm gains a competitive advantage over its rivals within a specific industry or market.
• C)both a and b.
• D)neither a nor b.

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Definitions:

Breach

The violation or breaking of a legal obligation or agreement, which can result in legal action against the party that fails to honor their part of the contract.

Lessor

The party or entity that leases or rents property to another party, known as the lessee, under a lease agreement.

Liquidated Damages Clause

A contractual provision specifying a predetermined amount of damages to be paid if one party breaches the contract.

Punitive

Relating to punishment, often referring to punitive damages in legal contexts, which are awarded in addition to actual damages to punish the defendant and deter future misconduct.