The External Market Opportunities That Are Most Relevant to a Company

question 71

Multiple Choice

The external market opportunities that are most relevant to a company are the ones that

• A) increase market share.
• B) reinforce its overall business strategy.
• C) match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage.
• D) correct its internal weaknesses and resource deficiencies.
• E) help defend against the external threats to its well-being.

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Definitions:

Organizational Control Systems

Mechanisms established within an organization to ensure that actions and outputs align with the goals and standards set by management.

Control Subsystems

Components within a larger control system that work together to monitor and regulate conditions to maintain the desired state or output.

Policies and Procedures

Are formal guidelines and rules established by an organization to regulate its operations and behavior within its workforce.

Control Function

A management activity that involves monitoring performance, comparing it with goals, and taking corrective action as needed.