The Strategic Management Process

question 67

Multiple Choice

The strategic management process:

• A)is especially difficult for the small business because of its limited resources.
• B)divides mass markets into smaller,less homogeneous units.
• C)provides the small business owner with the tools for managing the uncontrollable elements in the external business environment.
• D)helps a small business develop the game plan that guides it in creating its mission,vision,goals,and objectives.

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Definitions:

Credence Properties

Attributes of a product or service that are difficult or impossible for the consumer to evaluate even after purchase and consumption.

Geek Squad

A subsidiary of Best Buy, providing various tech support services from installation to repair for consumer electronics.

Credence Properties

Characteristics of a product or service that cannot be fully evaluated by the consumer even after purchase and use, requiring trust in the provider.

Surgeons

Surgeons are highly skilled medical professionals specializing in performing surgical procedures to treat diseases, injuries, and deformities.