Strategy is using limited resources to achieve favourable positions for the firm. Strategy can be viewed as the link between the following Group of answer choicescustomers and suppliersgoals and structureresources and capabilitiesfirm and environment
Question
Strategy is using limited resources to achieve favourable positions for the firm. Strategy can be viewed as the link between the following Group of answer choicescustomers and suppliersgoals and structureresources and capabilitiesfirm and environment
Solution
Strategy can be viewed as the link between all of the given options. Here's why:
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Customers and Suppliers: A business strategy often involves identifying the needs of customers and how to meet them, as well as managing relationships with suppliers to ensure the necessary resources are available.
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Goals and Structure: Strategy is also about setting goals for the organization and determining the structure that will best allow it to achieve those goals. This includes decisions about the allocation of resources and the design of processes and systems.
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Resources and Capabilities: A key part of strategy is understanding the firm's resources and capabilities, and how to leverage them to gain a competitive advantage. This involves decisions about where to invest resources and how to develop and enhance capabilities.
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Firm and Environment: Strategy also involves understanding the external environment in which the firm operates, including market trends, competition, and regulatory issues. This understanding helps the firm to position itself effectively and to adapt to changes in the environment.
So, strategy can be seen as the link between the firm and its environment, its resources and capabilities, its goals and structure, and its customers and suppliers.
Similar Questions
Strategy is a pattern of resource allocation choices and organizational arrangements that result from managerial decision making.Question 9Select one:TrueFalse
A company that has competitive assets that are central to its company strategy and superior to those of rival firms creates aMultiple Choiceresource deployment strategic plan.competitive advantage over other companies.cash flow feasibility analysis.long-term derivative strategy.cost underestimation and benefit overestimation.
1. Resources are NOT:Group of answer choicescapable of providing a firm with a competitive advantage over its rivalsproductive inputs or competitive assets owned or controlled by a companyharder to categorise than capabilities and as a result are more challenging for companies to assemblecategorised into tangible and intangible resourcestypically categorised in such a way that some are more competitively valuable than others
What is strategy?Multiple choice question.a sustainable and dominant market sharea decision based on external situational analysisa decision based on internal situational analysisthe set of actions a firm takes to achieve a competitive advantage
The practice of management to permit maximum flexibility among staff and resources to engage new methods and relationships outside of the competitor “normal” behaviors is known asSelect one:a.Alignment Strategyb.Corporate Strategyc.Adaptability Strategyd.None of these
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