ITPEC IP April 2025 Question 69
ITPEC IP April 2025 — Question 69 of 100
Business strategy — withdrawing from one business and concentrating resources on another is a concrete choice about how the company will compete and grow.
The company evaluates its business portfolio, exits stagnant area A, and reallocates limited management resources to strengthen area B. This specifies a course of action for achieving continuous growth, which is strategy.
Answer (b)
Why not others:
- (a) Business environment means external and internal conditions affecting the firm, not its chosen response
- (c) Management vision describes a desired future state
- (d) Management philosophy states enduring values and principles
Key rule: Philosophy explains values, vision describes the future, and strategy selects actions and resource allocation to reach that future.
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