strategies an organization develops to provide value to the customers it serves is called a(n)
A) mission statement.
B) objective goal.
C) vision statement.
D) business model.
E) protocol.

Question

Quizplus · Accepted Answer

A business model is a plan or strategy an organization uses to create and deliver value to its customers. It outlines how the organization will make a profit while serving its market. A mission statement outlines an organization's purpose, a vision statement describes its future aspirations, and an objective goal is a measurable target set by the organization to achieve specific outcomes. Protocol refers to a set of rules or guidelines to be observed in a particular situation or organization. While all of these elements are important for organizational success, D is the best answer as it specifically relates to the development of strategies for providing customer value.

Strategies an Organization Develops to Provide Value to the Customers