ITPEC IP October 2018 Question 72
ITPEC IP October 2018 — Question 72 of 100
Withdrawing from a stagnant business and reallocating resources to strengthen another business is a business strategy. It is a deliberate choice about where the company will compete and how scarce management resources will be deployed to achieve continued growth.
Answer (b)
Why not others:
- the business environment consists of external and internal conditions affecting the firm
- management vision describes the desired future state
- management philosophy states foundational purpose and values
Key rule: Strategy translates vision into choices and resource allocation; it decides what to pursue, strengthen, reduce, or exit.
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