BA 453 Questions with Complete Solutions

strategy Correct Answer-a diagnosis that defines or explains a business challenge or opportunity, a decision or set of decisions for dealing with the challenge or opportunity, and a coherent set of actions to deliver on the decisions so as to create sustainable advantage and superior returns. At the core of this definition are three central elements: diagnose, decide, and deliver is the pattern of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plan for achieving those goals, and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and noneconomic contribution it intends to make to its shareholders, employees, customers, and communities a broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals. Strategy is about the creation and capture of value Corporate Level Strategy Correct Answer-is concerned with the selection of business areas in which the company should compete and with the development and coordination of that portfolio of businesses. It is relevant in diversified firms, which operate multiple different businesses across various industries. is generally the focus of high-level corporate executives.