Which of the Following Is an Integral Part of the Managerial

question 31

Multiple Choice

Which of the following is an integral part of the managerial process of crafting and executing strategy?

• A) developing a proven business model
• B) setting objectives and using them as yardsticks for measuring the company's performance and progress
• C) deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
• D) communicating the company's mission and purpose to all employees
• E) deciding on the composition of the company's board of directors

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

Tariff Revenue

The income earned by a government from imposing taxes on imported goods.

Import Quota

An import quota is a government-imposed limit on the quantity or value of goods that can be imported into a country.

Regional Trading Bloc

A group of countries within a geographical region that protect themselves from imports from non-members through tariffs and quotas.