Business strategy defines:
A)The way a firm competes in a particular industry or market
B)The way a firm establishes a competitive advantage over its rivals within a specific industry or market
C)Both of the above
D)Neither of the above

Question

Quizplus · Accepted Answer

Business strategy defines both the way a firm competes in a particular industry or market and the way a firm establishes a competitive advantage over its rivals within a specific industry or market. It includes the decisions and actions that a firm takes to achieve its goals and objectives. Business strategy involves analyzing the firm's strengths and weaknesses, understanding the industry or market, and identifying opportunities and threats, and then crafting a plan of action to achieve the desired outcomes.

Business Strategy Defines