Developing a Strategic Vision for a Company Entails

question 85

Multiple Choice

Developing a strategic vision for a company entails

• A) prescribing a strategic direction for the company to pursue and a rationale for why this strategic path makes good business sense.
• B) describing its business model and the kind of value that it is trying to deliver to customers.
• C) putting together a story line of why the business will be a moneymaker.
• D) describing "who we are and what we do."
• E) coming up with a long-term plan for outcompeting rivals and achieving a competitive advantage.

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Definitions:

Observer Effect

The observer effect refers to changes that the act of observation can make on a phenomenon being observed.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.

Volunteer Bias

The distortion of research results due to differences between those who choose to participate in studies and those who do not.

Representative Sample

A portion of the population that correctly mirrors the characteristics of the whole population.