What do economists call a set of actions that a firm takes to achieve a goal,such as maximising profits?

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Economists refer to a set of actions a firm takes to achieve a goal, such as maximizing profits, as a "business strategy." This encompasses the various decisions a firm makes on production, pricing, marketing, and distribution of their products and services. A payoff matrix is a tool used in game theory to show the possible outcomes of strategic decisions made by multiple parties. The Porter's Competitive Forces plan is a framework used to analyze the competitive environment in which a firm operates. Game theory is the study of strategic decision-making by individuals or groups.

What Do Economists Call a Set of Actions That a Firm