A Company's Strategy Consists of the Action Plan Management Is

question 52

Multiple Choice

A company's strategy consists of the action plan management is taking to:

• A) grow the business,stake out a market position,attract and please customers,compete successfully,conduct operations,and achieve performance objectives.
• B) compete against rivals and establish a sustainable competitive advantage.
• C) make its product offering more distinctive and appealing to buyers.
• D) develop a more appealing business model than rivals.
• E) identify its strategic vision,its strategic objectives,and its strategic intent.

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Definitions:

Perfectly Efficient

Describes a hypothetical state where resources are allocated in the most effective way possible, with no waste.

Unhealthy HR Practices

entails human resource strategies and actions that negatively impact employee well-being, morale, or legal rights, often leading to a toxic work environment.

Competitiveness

The ability of a person, company, or country to compete effectively and successfully in the market.

Labor Problem

Issues and conflicts arising in the workforce, including disputes over wages, working conditions, and workers' rights.