BUSINESS STRATEGIC MANAGEMENT ANSWER THE FOLLOWING: TRUE OR FALSE? 1. The proces
ID: 362708 • Letter: B
Question
BUSINESS STRATEGIC MANAGEMENT
ANSWER THE FOLLOWING: TRUE OR FALSE?
1. The process of creating goods and services in which organizational resources are transformed into outputs is called production 2. Intern al development is not an option for implementing growth strategies ross-functional team is a group of individuals from various functional departments who work together on prod process development. uct or 4. Benchmarking is the search for best practices inside or outside an organization 5. The SWOT analysis points to the strategic issues makers need to address in their pursuit of sustainable competitive advantage 6. Competitive advantage is what sets an organization apart from other firms in its industry 7. The term generic strategy refers to the fact that any type or size organization' in any type or size industry can pursue itExplanation / Answer
1. The correct answer is true.
The process used to transform inputs into goods or services is called production. Input refers to the resources that are used in the process to produce output. Output is the end result of the production process which is good or service.
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