Functional Strategies

question 16

Multiple Choice

Functional strategies

• A) specify what actions a company should take to resolve specific strategic issues and problems.
• B) concern the actions, approaches, and practices related to particular functions or processes within a business.
• C) are concerned with how to unify the firm's several different operating strategies into a cohesive whole.
• D) are normally crafted by the company's CEO and other senior executives.
• E) None of these.

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Definitions:

Marginal Costs

The change in total production cost that arises when the quantity produced is incremented by one unit.

Investment

The allocation of resources, usually money, in order to gain profitable returns as interest, income, or appreciation in value.

Workers

Individuals who perform tasks or jobs for pay, ranging from manual labor to professional occupations.

Units

In economics, units refer to the quantifiable measures used to express the quantity of an item, such as pieces, kilograms, liters, etc., used in transactions or production.