Which of the following competencies relates to functionality?

A. Providing excellent quality which is recognized by customers

B. Developing and introducing new processes for cost savings and speedier decision-making

C. Manage 'green' issues to avoid crises or create competitive advantage

D. Avoid business failures by becoming and staying crisis averse

Answer: Option B

Solution(By Examveda Team)

Developing and introducing new processes for cost savings and speedier decision-making competencies relates to functionality. Strategic management include a set of decisions and actions resulting in the formulation and implementation of strategies designed to achieve the ultimate objectives of an organisation. The strategic management encompasses tasks pertaining strategic planning, implementation planning and monitoring.