Which of the Following Most Accurately Describes the Task of Crafting

question 77

Multiple Choice

Which of the following most accurately describes the task of crafting a company's strategy?

• A) In most companies, strategy-making is the exclusive province of top management-owner-entrepreneurs, CEOs, and other very senior executives.
• B) The more a company's operations cut across different products, industries, and geographical areas, the more that headquarters executives have little option but to delegate considerable strategy-making authority to down-the-line managers in charge of particular subsidiaries, product lines, geographic sales offices, and plants.
• C) A company's board of directors generally takes the lead role in crafting a company's strategy.
• D) In most of today's companies, the lead strategy-making role is being assumed by an elite group of corporate entrepreneurs.
• E) Masterful strategies are nearly always the product of brilliant corporate entrepreneurs.

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Definitions:

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, represented as a ratio of percentage change in quantity supplied to the percentage change in price.

Prices of Antiques

The monetary value or cost of objects that are significant due to their age, rarity, or cultural importance.

Main Determinant

The primary factor or condition that influences an outcome or result.

Price Elasticity of Supply

The measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price.