1. A plan of action or policy designed to achieve a major oroverall aim is BEST identified as a:A. VisionB. MissionC. StrategyD. Strategic Management2. According to Abell's Framework, a business can be bestdefined by examining all of the following EXCEPT:A. Customer needsB. Customer groupsC. TechnologyD. External Factors3.speaks to anything that a firmdoes especially well compared to rival firms.A. Competitive advantageB. Absolute advantageC. Comparative advantageD. Internal resources4. Which of the following is an aspirational description ofwhat an organization would like to achieve or accomplishin the mid-term or long-term future?A. Mission StatementB. Vision StatementC. GoalD. Objectives5. Which of the following is a written declaration of anorganization's core purpose and focus that normallyremains unchanged over time?A. Mission StatementB. Vision StatementC. GoalD. Objectives6. Which approach to competitive advantage advocates thatexternal factors are more important than internal factors ina firm achieving competitive advantage?A. SWOT approachB. SLEPT approachC. Resource Based ViewD. Industrial Organizational

Since you have posted a question with multiple sub-parts, we will solve the first 3 questions for…

Answered: A. Vision B. Mission C. Strategy D.…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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#Management #Management_Information_System #ComputerScience
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A. Vision B. Mission C. Strategy D. Strategic Management 2. According to Abell's Framework, a business can be best defined by examining all of the following EXCEPT: A. Customer needs B. Customer groups C. Technology D. External Factors 3. speaks to anything that a firm