Businesses achieve superior financial returns by choosing a…
Businesses achieve superior financial returns by choosing a rule of thumb that leverages cost efficiencies, differentiation, or innovation. The framework that explains this decision-making is known as . Organizations today are increasingly assessed based not only on their financial outcomes but also on their impact on society and the environment. This evaluation method is called the . A group of competing firms that produce similar goods or services and serve the same customer base is collectively known as a(n) . Once a strategy has been developed, organizations must put it into action by allocating resources, designing structures, and aligning operations with strategic goals. This phase is known as . A is any individual, group, or entity that has an interest in or is affected by a company’s decisions, operations, or performance. This includes employees, customers, suppliers, shareholders, and even communities and government agencies. The overall concept for how a company organizes itself and all its activities to conduct business successfully, outperform competitors, and deliver superior returns to its shareholders is known as .