The Strategies an Organization Develops to Provide Value to the Customers

question 54

Multiple Choice

The strategies an organization develops to provide value to the customers it serves is called a(n)

• A)mission statement.
• B)objective goal.
• C)vision statement.
• D)business model.
• E)protocol.

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Definitions:

Definite Promise

A definite promise is a clear and unambiguous commitment or pledge made by one party to another, often forming the basis of a contractual obligation.

Consideration

In contract law, it refers to something of value exchanged between parties as the basis for a contract.

Bargained-for Exchange

Bargained-for exchange is a legal concept where parties agree to provide something of value to each other, forming the basis of a contract.

Illusory Promise

A statement that appears to be a binding commitment but allows for so much discretion that it does not legally bind the party making it.