Gap's opening of its first five stores in China is an example of which type of strategy?

A$)$ Forward integration

B$)$ Backward integration

C$)$ Horizontal integration

D$)$ Market development

E$)$ Product development

What is the first step in the comprehensive strategic$-$management model?

A$)$ Establishing long$-$term objectives

B$)$ Performing external audits

C$)$ Performing internal audits

D$)$ Measuring and evaluating performance

E$)$ Developing vision and mission statements

Which question is NOT addressed in an effective mission statement?

A$)$ Is the firm committed to growth and financial soundness?

B$)$ Are employees a valuable asset of the firm?

C$)$ Geographically, where does the firm compete?

D$)$ Who are the firm's customers?

E$)$ What are the updated balances of leading accounts on the firm's balance sheet?