What is strategy and why is it important?
What will be an ideal response?
A company's strategy is the set of actions that its managers take to outperform the company's competitors and achieve superior profitability. A well-crafted strategy is the sort of lasting success that can support growth and secure the company's future over the long-term. A company's strategy provides direction and guidance, in terms of not only what the company should do but also what it should not do.
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The assumed continuation of a business entity in the absence of evidence to the contrary is an example of the accounting concept of
a. accrual. b. consistency. c. comparability. d. going concern.
Multichannel retailers are retailers that
A. utilize and integrate a combination of traditional store formats and nonstore formats. B. sell different products through entirely different channels. C. combine two channels for their offerings: one for products and the other for services. D. utilize strategic and tactical wholesalers. E. sell through different channels under different brand names.
Product life cycles are longer now than twenty years ago
Indicate whether the statement is true or false
By servicing accounts, and by cooperating and empathizing with clients, salespeople are engaging in ________ activities on behalf of their firm.
A. advertising B. telemarketing C. public relations D. direct-marketing E. promotional