Which of the Following Is One of the First Steps

question 96

Multiple Choice

Which of the following is one of the first steps to take in launching the strategy execution process?

• A) Ensure all requirements of the value chain are fulfilled.
• B) Form a mission statement as a basis for managers to achieve organizational objectives.
• C) Go on the offensive by employing moves to make its product offering more distinctive and appealing to buyers.
• D) Put together a talented management team with the right mix of experiences, skills, and abilities to get things done.
• E) Strive to be more profitable than rivals and aim for a competitive edge based on bigger profit margins.

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Definitions:

Consumer

An individual or group that purchases goods and services for personal use and not for manufacture or resale.

Marginal Utility

The additional satisfaction or benefit gained from consuming one more unit of a good or service.

Pretzels

A type of baked pastry made from dough that is commonly shaped into a knot and often salted.

Budget Constraint

A representation of all the combinations of goods and services that a consumer can afford with a fixed income and prices.