What is the primary purpose of a strategy in business?

Strategic Decision-Making in Business

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Business
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10th - 12th Grade
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Hard

Jackson Turner
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To increase employee satisfaction
To achieve company goals effectively
To reduce production costs
To expand into new markets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the four elements of successful strategies?
Strong decision-making capabilities
Simple and consistent goals
Deep analysis of the competitive environment
High levels of advertising
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Michael Porter, what is a key aspect of strategy?
Following industry trends
Reducing operational costs
Deliberately choosing to be different
Maximizing profits
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What strategic approach helped Zara succeed in the fashion industry?
Investing heavily in advertising
Quickly reacting to new fashion trends
Focusing on long-term fashion trends
Producing clothing in Asia
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does Zara manage to reduce its risk in the fashion industry?
By frequently updating its offerings
By maintaining high levels of stock
By producing only in Asia
By investing in digital marketing
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was Kodak's major strategic mistake?
Investing in digital photography
Focusing on mobile phone technology
Reducing production costs
Expanding into new markets
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which company quickly embraced digital photography, unlike Kodak?
Fujifilm
Canon
Nikon
Sony
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