The Fourth Step of the Small Business Strategy Planning Process

question 20

Multiple Choice

The fourth step of the small business strategy planning process

• A)is where you consider your customers and the benefits you want to offer them.
• B)aims to refine your firm's capabilities in order to maintain a competitive advantage.
• C)involves determining the best strategic direction and strategy for the firm.
• D)is to study the dynamics and trends of your industry.

---

Definitions:

1877

The year 1877 is significant in American history for the Great Railroad Strike, the first major rail strike and a turning point in US labor relations.

American Values

A set of ideals and principles that are often associated with American society, including liberty, democracy, individualism, and equality.

Exploited

The act of using someone in an unfair manner for one's own advantage, especially in the context of labor.

Early 1900s

A historical period marked by significant social, economic, and technological changes, approximately from 1900 to 1910.