Strategy Refers to the General Policies That Managers Adopt to Increase

question 25

Multiple Choice

Strategy refers to the general policies that managers adopt to increase:

• A) costs.
• B) the number of customers at the same price.
• C) the rate of technological change.
• D) the generation of profits.

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Definitions:

Customer Goodwill

Refers to the favorable reputation a business gains due to positive customer experiences and is seen as an intangible asset.

Outsourcing

The practice of having certain job functions or tasks performed by external entities or individuals, typically to reduce costs or improve efficiency.

Complexity

Refers to the state of having multiple interconnected parts, making a system or problem challenging to understand, predict, or control.

Disparate Subcomponents

Diverse and different parts or elements that together make up a complex system.