Which of the following terms refers to the basic means by which a company competes?
A) mission
B) procedure
C) strategy
D) process

Question

Quizplus · Accepted Answer

Strategy refers to the plan or approach adopted by a company to achieve its goals and objectives, and it includes the basic means by which the company competes, such as pricing, product differentiation, and distribution channels. Mission refers to the company's purpose and values, procedure refers to the specific steps or actions taken to accomplish a task, and process refers to a series of related activities that transform inputs into outputs.

Which of the Following Terms Refers to the Basic Means