Crafting a Strategy Involves

question 7

Multiple Choice

Crafting a strategy involves

• A) blending deliberate/planned initiatives with emergent/unplanned reactive responses to changing circumstances,while abandoning planned strategy elements that have failed in the marketplace.
• B) developing a five-year strategic plan and then fine-tuning it during the remainder of the plan period.
• C) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
• D) doing everything possible (in the way of price,quality,service,warranties,advertising,and so on)to make sure the company's product/service is very clearly differentiated from the product/service offerings of rivals.
• E) All of these accurately characterize the managerial process of crafting a company's strategy.

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Definitions:

Standard Error

A measure of the variability or dispersion of a sample statistic from the population parameter.

Confidence Interval

A set of values, obtained from sample data, that probably includes the value of an unspecified population parameter, given a certain confidence level.

Point Estimate

A solitary figure or statistical measure employed to approximate the worth of a population parameter.

Confidence Interval

A portfolio of values, extracted from sampling efforts, believed to encapsulate the undiscovered value of a population attribute.