The Real Payoff for Strategy Making Comes When Managers Draw

question 20

Multiple Choice

The real payoff for strategy making comes when managers draw conclusions about

• A) what strategy adjustments are needed to deal with the changes in conditions.
• B) determining the overall strength of the five competitive forces.
• C) determining whether the industry's strategic group map will be static or dynamic.
• D) conditions in the economy at large.
• E) the extent to which rivals have more than two competitively valuable competencies or capabilities

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Definitions:

Road Repair

The process of fixing and maintaining roads to ensure they are safe and efficient for transportation.

Condorcet Paradox

A scenario in social choice theory where collective preferences can be cyclical, even if the preferences of individual voters are not, leading to the absence of a clear majority opinion.

Transitive Preferences

In decision theory, a preference system where if an individual prefers option A to B and B to C, then they also prefer A to C.

Condorcet Paradox

A situation in majority voting where collective preferences can be cyclical and inconsistent, despite the individual preferences being rational and transitive.