A Strategy Is a Manager's Theory of How to Compete;

question 48

Multiple Choice

A strategy is a manager's theory of how to compete; however,the theory is useless if it is NOT put into action.What is the translation of strategy that details the firm's competitive tactics and initiatives?

• A) The business model
• B) The business formula
• C) The corporate model
• D) The corporate formula

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Definitions:

Permanent Strike Replacements

Workers hired to replace union members permanently during a strike, a controversial practice that can undermine union power.

Economic Strikes

Work stoppages initiated by employees to demand higher wages, improved benefits, or better working conditions from their employers.

Third-party Dispute Resolution

Involves an external, neutral party to help resolve conflicts or disputes between two other parties.

Contract Disputes

Disagreements that arise between parties regarding the terms, interpretation, or execution of a contract.