Implementing and Executing a Company's Strategy

question 59

Multiple Choice

Implementing and executing a company's strategy

• A) is primarily the job of the company's board of directors since they direct the actions and policies of the top senior executives in executing the strategy.
• B) is a task for every manager and the whole management team but ultimate responsibility for success or failure falls upon the top senior executives.
• C) is primarily a responsibility of all company personnel because all personnel are active participants in the strategy execution process and their actions have a huge impact on the ultimate outcome.
• D) should be delegated to a chief strategy implementer appointed by the chief executive officer.
• E) is primarily a task for middle and lower-level managers because it is they who have responsibility for pushing the needed changes all the way down to the lowest levels of the organization.

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Definitions:

Oligopoly

A market structure characterized by a small number of large firms dominating an industry, often resulting in limited competition.

Large Producers

Entities that produce goods or services at a high volume, often dominating the market or industry sector they operate within.

Pure Competition

A term synonymous with purely competitive industry, denoting a market scenario where numerous firms offer identical products, ensuring no singular entity can control the market price.

Monopolistic Competition

A market structure where many firms sell similar but not identical products, allowing for some degree of market power.