Multiple Choice
A company employing a _______ strategy would create a new product targeted to its current customers.
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1. Introduction to Accounting
Business Organization
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
A firm's core strategy is largely determined by its _______.
A
tax obligations
B
mission and vision
C
inventory turnover
D
depreciation method
Verified step by step guidance1
Understand the concept of a firm's core strategy: A firm's core strategy is the foundation of its business operations and decision-making. It is influenced by the firm's mission and vision, which define its purpose and long-term goals.
Analyze the options provided: Tax obligations, inventory turnover, and depreciation method are operational or financial aspects, but they do not directly determine the firm's core strategy.
Focus on the correct answer: Mission and vision are central to a firm's core strategy because they guide the firm's objectives, values, and overall direction.
Relate the concept to real-world examples: Consider how companies like Apple or Tesla use their mission and vision to shape their strategies, such as innovation and sustainability.
Conclude the reasoning: The firm's mission and vision are the correct determinants of its core strategy, as they provide the framework for all strategic decisions.
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