The Most Important Aspect(s)of a Company's Business Strategy

question 50

Multiple Choice

The most important aspect(s) of a company's business strategy

• A)are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage.
• B)is figuring out how to maximize profits and shareholder value.
• C)concerns how to improve the efficiency of its business model.
• D)deals with how management plans to maximize profits while,at the same time,operating in a socially responsible manner.
• E)is figuring out how to become the industry's low-cost provider.

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Definitions:

Hamburgers

A popular food item consisting of cooked ground beef patties placed inside a sliced bun, often accompanied by various toppings.

Comparative Advantage

The ability of an individual, firm, or country to produce a particular good or service at a lower opportunity cost than others.

Salmon

A species of fish commonly found in the Atlantic and Pacific Oceans, often cultivated for food and known for its nutritional benefits.

Comparative Advantage

The capacity of a nation, person, firm, or area to create a product or offer a service at a reduced opportunity cost compared to that of its rivals.