The First Step in Implementing a Strategy Is

question 36

Multiple Choice

The first step in implementing a strategy is:

• A) drafting detailed action plans that specify how a strategy is to be implemented.
• B) allocating responsibility for implementation to the appropriate individuals or groups.
• C) allocating appropriate resources to the responsible individuals or groups.
• D) holding specific individuals or groups responsible for the attainment of corporate, divisional, and functional goals.
• E) establishing a timetable for implementation that includes precise, measurable goals linked to the attainment of the action plan.

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Definitions:

Asymmetric Information

A situation in which one party in a transaction has more or superior information compared to another.

Market Failures

Situations in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Government Intervention

Actions taken by a government to influence or regulate various activities within its economy.

Market Signals

Indicators or information that guide economic decisions by conveying important data about the conditions or trends within a market.