Assertion (A) A firm's relative position within its industry determines whether the firm's overall profitability is above or below the industry average.
Reason (R) The fundamental basis of average profitability in the long run is sustainable competitive advantage.
A. (A) and (R) both are correct and (R) is the right explanation of A
B. (A) and (R) both are correct, but (R) is not the right explanation of (A)
C. (A) is correct, but (R) is incorrect
D. (R) is correct, but (A) is incorrect
Answer: Option A
Strategy is developed by the visionary chief executive in ___________ mode of strategic management
A. planning mode
B. adaptive mode
C. strategic mode
D. entrepreneurial mode
Stability strategy is a ____________ strategy
A. corporate level
B. business level
C. functional level
D. strategic level
What are the means by which long term objectives will be achieved?
A. Strategies
B. Policies
C. Strength
D. Opportunities
Marketing strategy is a ___________ type of strategy
A. business level
B. Growth strategy
C. corporate strategy
D. functional strategy
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