Crafting and Executing Strategy Are Top-Priority Managerial Tasks Because

question 68

Multiple Choice

Crafting and executing strategy are top-priority managerial tasks because:

• A) they are necessary ingredients of a sound business model.
• B) good strategy coupled with good strategy execution are the most telling signs of good management and greatly raises the chances that a company will be a standout performer in the marketplace.
• C) the management skills of top executives are sharpened as they work their way through the strategy-making,strategy-executing process.
• D) doing these tasks helps executives develop an appropriate strategic vision,strategic intent,and a set of strategic objectives.
• E) of the contribution they make to maximizing value for shareholders.

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Definitions:

Allowance for Doubtful Accounts

A reserve against the portion of accounts receivable that may not be collectible, reducing the book value to the amount expected to be collected.

Gross Amount

The total or whole amount of something before any deductions, such as taxes or discounts, are made.

Allowance Method

An accounting technique that estimates and sets aside a portion of accounts receivable deemed not collectible.

Uncollectible Account

An uncollectible account is a receivable that a company is unable to collect, considered as bad debt or a write-off.