To Sum Up, Strategy in Practice May Differ from Top

question 3

Multiple Choice

To sum up, strategy in practice may differ from top management's vision

• A)but not by much.
• B)because staff enact it, and they are influenced by the firm's structure, systems and culture around them.
• C)because staff enact it but they are not as experienced as top managers.
• D)because top management has failed to explain sufficiently clearly what it wants.

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Definitions:

Petty Cash Voucher

A document used to record and authorize the payment of small, immediate expenses from a petty cash fund.

High-Cost Items

Products or services that have a significantly higher price due to their quality, complexity, or brand reputation.

Specific Identification

A method for inventory costing and valuation that tracks the cost of individual items or batches of items.

First-In, First-Out

An inventory valuation method where goods purchased or produced first are sold or used first.