Which of the Following Are Integral Parts of the Managerial

question 72

Multiple Choice

Which of the following are integral parts of the managerial process of crafting and executing strategy?

• A) developing a strategic vision, Strategic Management, and crafting a strategy
• B) developing a proven business model, deciding on the company's strategic intent, and crafting a strategy
• C) Strategic Management, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
• D) coming up with a statement of the company's mission and purpose, Strategic Management, choosing what business approaches to employ, selecting a business model, and monitoring developments
• E) deciding on the company's strategic intent, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ

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Definitions:

Selling Price

The amount of money charged for a product or service, determining the revenue earned from sales.

Sunk Cost

Costs that have already been incurred and cannot be recovered, which should not factor into future business decisions.

Future Decisions

Choices or judgements that will be made in an upcoming period, often based on past and present information and forecasts.

Overhead Allocation

The process of spreading out fixed costs, such as salaries and utilities, across different departments or production activities within a company.