What Are Economic Resources

question 185

Multiple Choice

What are economic resources?

• A) assets
• B) liabilities and shareholders' equity
• C) owners' equity and shareholders' equity
• D) revenues

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Definitions:

Strategy Formulation

The process of developing a plan to achieve organizational goals that involve defining the company’s mission, setting objectives, assessing both internal and external environments, and determining strategic choices.

Strategy Implementation

The process of putting strategies into action.

Strategy Outsourcing

The practice of delegating a company's business strategy or operational tasks to external specialists to capitalize on efficiencies, reduce costs, or improve focus on core competencies.

Strategic Analysis

A comprehensive evaluation process of an organization's strategic position, identifying strengths, weaknesses, opportunities, and threats.