The First Step in Strategy Implementation Involves Articulating in Simple

question 3

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 is known as:

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

---

Definitions:

Forward Exchange Rate

An agreed exchange rate for a currency to be exchanged at a future date, used in hedging and trading strategies.

Inflation Rates

The rate at which the cost of general goods and services inflates, consequently eroding the power to buy.

Relative Purchasing Power Parity

An economic theory that states the rates of change in price levels between two countries should equal the rate of change in the exchange rate between their currencies.

Triangle Arbitrage

A practice of profiting from the price differential between three different currencies in the foreign exchange market.