Cost Accounting (15th Edition)

Published by Prentice Hall
ISBN 10: 0133428702
ISBN 13: 978-0-13342-870-4

Chapter 12 - Strategy, Balanced Scorecard, and Strategic Profitability Analysis - Assignment Material - Questions - Page 506: 12-1

Answer

Strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives. In other words, strategy describes how an organization can create value for its customers while differentiating itself from its competitors.

Work Step by Step

Strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives. In other words, strategy describes how an organization can create value for its customers while differentiating itself from its competitors.
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