Answer the following question in detailed explanation: olla 1. What is a strategy? Explain the relation between a company's strategy and its vision and mission 2. Differentiate between tactics and strategies. Give an example to illustrate this difference. 3. What is Specialization? In your opinion, does Specialization attract customers? Explain your answer 4. List three advantages of outsourcing. Give an example of a company that utilizes outsourcing 5. Why is it important to calculate a productivity ratio? What conclusions are made from this ratio? 6. Which strategy utilizes Operations Management? Explain how. 7. Time based strategy focuses on reducing time; highlight on the importance of time reduction and its relation to cost. 8. Based on your opinion, which strategy is the most guaranteed to attract customers? Explain. 9. One of the internal factors that effect a business organization is technology. Explain how technology can affect a business organization negatively. 10. Why is strategy formulation used? Explain its importance. bedo Page 1 of 2