Functional Strategies

question 57

Multiple Choice

Functional strategies

• A) unify the company's various operating-level strategies.
• B) specify how to build and strengthen the skills,expertise,and competencies needed to execute operating-level strategies successfully.
• C) support and add power to the corporate-level strategy.
• D) add relevant detail to the "hows" of a company's business-level strategy and specify what resources are needed to put the strategy into action.
• E) create the chief elements of the company's strategy map.

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Definitions:

Cost Differences

The discrepancies in the amount of money required to produce or obtain goods and services between different companies or regions.

Collusion

Collusion is an agreement between competitors to limit competition and manipulate market variables such as prices or output, often in order to increase profit margins at the expense of consumers.

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded.

World Markets

The aggregate of all geographical markets where goods, services, and financial assets are traded internationally.