The First Step in Strategy Implementation Involves Articulating in Simple

question 9

Multiple Choice

The first step in strategy implementation involves articulating in simple language what a particular business must do to create or sustain a competitive advantage. This step involves

• A) assessing organizational capabilities.
• B) developing an implementation agenda.
• C) defining strategic tasks.
• D) creating an implementation plan.
• E) developing a mission statement.

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Definitions:

Patent

A government grant giving an inventor exclusive rights to make, use, or sell an invention for a specified period in exchange for public disclosure of the invention.

Trademark

A legal designation of exclusive use of a brand or product name.

Goodwill

An intangible asset that represents the portion of the business value that cannot be attributed to other business assets.

Loss on Disposal

The financial loss incurred when an asset is sold for less than its carrying value on the books.