What Term Describes a Policy in Which a Firm Is

question 21

Multiple Choice

What term describes a policy in which a firm is prepared to match whatever change in strategy a competitor makes?

• A)Response strategy
• B)Always cooperate strategy
• C)Always aggress strategy
• D)Tit-for-tat strategy
• E)Trigger strategy

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Definitions:

Business Judgment Rule

A rule under which courts will not hold corporate officers and directors liable for honest mistakes of judgment and bad business decisions that were made in good faith.

Negligence Or Mismanagement

The failure to exercise the care or oversight required, resulting in harm or loss.

Duty Of Care

A legal obligation imposed on individuals or organizations to adhere to a standard of reasonable care while performing any acts that could foreseeably harm others.

Breaching

The behavior of violating or not adhering to a law, contract, or set of rules.