4. Which of the following is an issue considered in developing corporate strategies? a. What business(es) are we in? b. What direction are we going? c. What resources do we have to implement our strategies? d. What businesses are we in and what to do with those businesses? 5. Which of the following is NOT a major element of the strategic management process? a. Formulating strategy b. Implementing strategy c. Evaluating strategy d. Assigning administrative tasks 6. Competitive advantage can best be described as: a. increased efficiency b. what sets an organization apart c. a weakness of the organization d. intangible resources