What is a business strategy?

Select one or more:

A. Business strategy is a vision of a top management for the company development.

B. Business strategy is a fuzzy concept, with no clear definition and lacking practical usefulness.

C. Business strategy is a process to determine in what businesses a firm should be and how these various businesses should be managed in order to strengthen the overall position of the company.

D. Business strategy is a determination of the basic long-term goals and objectives of an enterprise, the adoption of a course of action and the allocation of resources necessary for carrying out these goals.

Q-2 Strategic Management Principle says that in order to have a competitive advantage the company should:

Select one or more:

A. be competent on all key success factors of its industry and be excellent on at least one.

B. be competent on several key success factors of its industry and be excellent on at least one.

C. be excellent on all key success factors of its industry.

D. compete on different key success factors than its rivals.