Which of the Following Statements About Strategy Is Most Accurate

question 23

Multiple Choice

Which of the following statements about strategy is most accurate?

• A) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
• B) The marketing department helps to both set an organization's direction and move it there.
• C) The American Marketing Association (AMA) recently has established the definition of strategy.
• D) Strategy is an organization's short-term course of action designed to deliver a broad customer experience while achieving its goals.
• E) Only start-up organizations must develop strategies to help them (1) raise capital and (2) focus and direct their efforts to accomplish their goals.

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Definitions:

Production Possibilities Frontier

A graph that shows the combinations of two goods the economy can possibly produce given the available resources and technology.

Unemployed Resources

Assets, labor, or capital that are available but not currently being used in the production of goods or services.

Production Possibilities Frontier

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Technological Improvement

Technological Improvement refers to advancements in technology that increase productivity and efficiency in the production of goods and services.