The Executive Arm of the State Is Comprised of the Elected

question 25

Multiple Choice

The executive arm of the state is comprised of the elected government and:

• A) the public bureaucracy that advises, administers and implements policy.
• B) the courts and associated infrastructure, which enforce the law.
• C) executives from large and economically significant companies.
• D) both the public bureaucracy and executives from economically significant companies.

Understand the impact of strategic planning on business performance and the importance of strategic management for all organizational members.

Identify various modes of strategy-making and the advantages of each.

Understand the concept of synergy in business strategy and its effects.

Appreciate the shift towards more inclusive and organic strategy-making processes in modern organizations.

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Definitions:

Elasticity of Demand

An index that determines the sensitivity of consumer demand for a product to its price change, by comparing the percent change in the amount of the good demanded with the percent change in its price.

Business Users

Individuals or entities that use goods or services for the purpose of running a business, as opposed to personal or recreational use.

Prime Rib Dinner

A meal featuring a prime rib, which is a cut of beef from the primal rib, traditionally roasted and served as a significant dish in Western cuisine.

Two-Part Tariff

A pricing model featuring a base charge along with a fee that varies depending on usage.