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Questions and Answers
Which factor is not typically considered in the formulation of business strategy?
Which factor is not typically considered in the formulation of business strategy?
- Socio-economic impact on society
- Competitor strategies and actions
- Short-term financial gains only (correct)
- Market trends and customer preferences
What is the primary focus of business strategy?
What is the primary focus of business strategy?
- Minimizing customer satisfaction
- Avoiding innovation and change
- Achieving long-term competitive advantage (correct)
- Maximizing short-term profits
What is the purpose of implementing a business strategy?
What is the purpose of implementing a business strategy?
- To guide organizational decision-making (correct)
- To eliminate all risks
- To limit future opportunities
- To ensure immediate financial gains
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