________ defines the major actions by which an organization builds and strengthens its competitive position in the marketplace.
A)Corporate strategy
B)Strategic map
C)BCG Matrix plan
D)Situation analysis
E)Business strategy

Question

Quizplus · Accepted Answer

Business strategy defines how an organization plans to achieve its goals and objectives, and how it will differentiate itself from competitors in the marketplace through its products or services, target market, pricing, distribution channels, marketing and branding, and other key factors. It is a critical component of corporate strategy, which guides the overall direction and scope of the organization, but focuses specifically on the actions and tactics that will enable the organization to compete effectively and win in its chosen markets. Strategic maps and BCG Matrix plans are tools that can be used to support and inform business strategy, while situation analysis provides a comprehensive understanding of the internal and external factors that impact the organization's ability to compete.

________ Defines the Major Actions by Which an Organization Builds