Learning Path
Question & Answer
Choose the Best Answer
By using outdated market research
By ensuring that the resources and activities in the business model support the strategic goals
By ignoring performance metrics
By focusing solely on product development
Understanding the Answer
Let's break down why this is correct
When the resources a company owns and the activities it does are chosen to support its big plans, the company can move all parts of the business in the same direction. Other options are incorrect because Using old market research assumes the past is still true, but markets change fast; Ignoring performance metrics means a company has no way to see if plans are working.
Key Concepts
Business Strategy
hard level question
understand
Deep Dive: Business Strategy
Master the fundamentals
Definition
Business strategy refers to the long-term direction and scope of an organization to achieve a competitive advantage in a dynamic environment. It involves leveraging resources and competencies to adapt to changes and drive success. Managers play a crucial role in contributing to strategic discussions and decision-making processes.
Topic Definition
Business strategy refers to the long-term direction and scope of an organization to achieve a competitive advantage in a dynamic environment. It involves leveraging resources and competencies to adapt to changes and drive success. Managers play a crucial role in contributing to strategic discussions and decision-making processes.
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