A company's strategic vision concernsMultiple Choicewhat future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.a company's directional path and future product-customer-market-technology focus.why the company does certain things in trying to please its customers.management's storyline of how it intends to make a profit with the chosen strategy "who we are and what we do.""who we are and what we do."

An engaging and convincing strategic visionMultiple Choiceshould be explained after the company's strategic intent, strategy, and business model have been conveyed to company personnel.tends to be more effective when top management avoids trying to capture the essence of the strategic vision in a catchy slogan.should be done in language that inspires and motivates company personnel to unite behind executive efforts to get the company moving in the intended direction.is most efficiently and effectively done by posting the strategic vision prominently on the company's website and encouraging employees to read it.ought to put "who we are and what we are doing" in writing rather than orally so as to leave no room for company personnel to misinterpret what the strategic vision really is.

One of the important benefits of a well-conceived and well-stated strategic vision is toMultiple Choiceset forth the firm budgetary objectives in clear and fairly precise terms.clearly communicate management's aspirations for the company to stakeholders and help steer the energies of company personnel in a common direction.help create a balanced scorecard approach to objective setting and not stretch the company's resources too thin across different products, technologies, and geographic markets.indicate what kind of sustainable competitive advantage the company will try to create in the course of becoming the industry leader.clearly delineate how the company's business model will be implemented and executed.

One important indicator of how well a company's present strategy is working is whetherMultiple Choiceits strategy is built around at least two of the industry's key success factors.it is customarily a first-mover in introducing new or improved products (a good sign) or a late-mover (a bad sign).it has more core competencies than close rivals.it is subject to weaker competitive forces and pressures than close rivals (a good sign) or stronger competitive forces and pressures (a bad sign).the company is achieving its financial and strategic objectives and is an above-average industry performer.

A firm’s strategy includes which of the following:Question 10Select one:a.Captures how vision and mission will be achievedb.Communicates to stakeholders the hierarchical corporate structure.c.Sets specific operating procedures to be followed by front line managers.d.Establoshes systems and processes used to implement the goals and objectives

A company's competitive strategy shouldMultiple Choicebe supportive with its objective to become at least an average performer within its industry.be well attuned to doing an outstanding job of satisfying the needs and expectations of niche buyers.ensure it is designed to concentrate on a small range of products so it can react quickly to competitive moves.be well matched to its resources and capabilities in order to incorporate standard attributes into its product offering.be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.