What Does a Successful Strategy Execution Require

question 41

Multiple Choice

What does a successful strategy execution require?

• A)Little consensus building is required,despite the magnitude of the proposed changes,because employees know the benefits to be gained from the planning process.
• B)A team effort is required,with all managers having strategy executing responsibility in their areas of authority and all employees should be active participants in the strategy execution process.
• C)Additional investments in capital projects are necessary,rather than adding to a company's talent base and building intellectual capital.
• D)Choices need to be made among broad or narrow low-cost and differentiation strategies to compete against one's rivals is a requirement.
• E)Incremental changes to current operating practices should be implemented to ensure existing resource capabilities are not impacted too severely.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, typically because consumers will choose higher quality substitutes when they can afford them.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing a downward slope from left to right.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.

City Revenues

The income generated by a municipality from sources like taxes, fees, and grants which is used to fund public services.