A Set of Actions That a Firm Takes to Achieve

question 5

Multiple Choice

A set of actions that a firm takes to achieve a goal, such as maximising profits, is called

• A) a business strategy.
• B) a payoff matrix.
• C) the Porter's Competitive Forces plan.
• D) game theory.

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Definitions:

Group Hierarchies

The arrangement or classification of individuals within a group according to authority, status, and roles.

Elite Leadership Roles

High-status positions that have significant influence and authority, typically involving strategic decision making and governance at upper levels of organizations.

Gender Equal

The state of ensuring equal rights, responsibilities, and opportunities irrespective of gender.

Gender Stereotype

Preconceived notions and oversimplified beliefs about the characteristics, attributes, and behaviors of males or females, which may influence leadership perceptions and opportunities.