6. The term strategy can be defined as: a. A company’s market share, which allows it to outperform competition. b. A coordinated deployment of a firm’s resources to achieve competitive advantage. c. The sum total of a company’s financial, organizational, physical and human resources. d. All of the above.

A coordinated deployment of a firm’s resources to achieve competitive advantage.

Explanation:

The term strategy can be defined as a coordinated deployment of a firm’s resources to achieve competitive advantage. It is a long-term plan of action that is focused on using a firm's available resources to achieve set objectives and goals, which includes dominating the market, meeting customer's demands, expanding the business, etc.

The executive management team ensures that their business strategy is in tandem with the aim, objectives vision and mission. A good business strategy is a continuous process that should function as a roadmap or guide to achieve competitive advantage, sustained profitability, growth and development of an organization.

A business strategy can be classified into various categories, such as product strategy, marketing strategy, growth strategy etc.