Which of the Following Is an Integral Part of the Managerial

question 26

Multiple Choice

Which of the following is an integral part of the managerial process of crafting and executing strategy?

• A)Developing a proven business model
• B)Setting objectives and using them as yardsticks for measuring the company's performance and progress
• C)Deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
• D)Communicating the company's mission and purpose to all employees
• E)Deciding on the composition of the company's board of directors

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Definitions:

U.S. Patent System

The governmental body responsible for granting patents in the United States, providing inventors exclusive rights to their inventions for a limited period.

Patented

Describes a legal status granted to an invention that provides the patent holder with exclusive rights to use, make, sell, or distribute the invention for a certain period of time.

Trade Secrets

Confidential business information that provides an enterprise with a competitive edge, legally protected from theft or disclosure.

Competitor

An individual, organization, or entity that offers a similar product or service and competes in the same industry or market as another organization.