Which of the Following Statements About Functional Strategies Is Best

question 37

Multiple Choice

Which of the following statements about functional strategies is best?

• A) Functional strategies are not impacted by the mission statement; instead they are impacted by the overall business strategy.
• B) Functional strategies determine the overall business strategy.
• C) Many functional level strategies could readily be described as cross-functional.
• D) A firm's operations and supply chain strategy is more important than their marketing, finance and engineering strategies.

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Definitions:

Process Costs

Costs that are incurred in the production process, often relating to the manufacturing of goods, which typically include labor, materials, and overhead expenses.

Productive Process

The procedures involved in creating a product or service, encompassing everything from the acquisition of raw materials to the manufacture, labor, and overhead costs.

Materials Markup

The sum included in the goods' cost price to cover both overhead expenses and profit.

Time and Materials Pricing

A pricing method where customers are charged based on the actual time spent and materials used on their project.