Question 1 Not yet graded / 2 pts What is the definition of business strategy? (Complete your response in no more than three sentences.) Your Answer: The organizations existing will have certain specific goals and mission, and objectives that help it to grow. Business strategy is a plan that helps organization to achieve those specific goals. Business strategy creates set of activities needed to maximize the performance of the company. Question 2 1 / 1 pts A product development strategy specifies the portfolio of new products that a company will try to develop. Life cycle assessments and analyses are systems for addressing the environmental consequences of entire product chain. True or False? True False Question 3 1 / 1 pts Diversification occurs when a firm enters into the same markets (e.g. international, domestic markets) with existing products or services. True or False? True False Question 4 1 / 1 pts Firms try to maintain value added, which i