Strategic Groups Consist of a Group of

question 79

Multiple Choice

Strategic groups consist of a group of

• A) top executives that makes strategies for a company.
• B) executives drawn from different companies within an industry that makes decisions on industry standards.
• C) firms within an industry that decides to collude rather than compete with each other so that they can increase their profits.
• D) firms within an industry that follows similar strategies.

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Definitions:

Involuntary Bankruptcy

A legal process initiated by creditors requesting the court to declare a debtor bankrupt, forcing the debtor to liquidate assets to pay off debts.

Chapter 7

A provision of the Bankruptcy Code providing for "liquidation," which involves the sale of a debtor's non-exempt property and the distribution of the proceeds to creditors.

Permanent Trustee

A trustee appointed to manage and administer a trust indefinitely until the trust’s objectives are fulfilled or the trust is legally dissolved.

Chapter 7

A provision under the U.S. Bankruptcy Code allowing for liquidation of a debtor's assets to pay off creditors.