Which of the following is not an element of a company's business strategy?
a. Actions to respond to changing market conditions or other external factors
b. Actions to strengthen competitiveness via strategic alliances and collaborative partnerships
c. Actions to strengthen internal capabilities and competitively valuable resources
d. Actions to manage the functional areas of the business
e. Management actions to revise the company's financial and strategic performance targets

The correct answer is the option D: Actions to manage the functional areas of the business.

Explanation:

To begin with, a company's business strategy could be understood as the set of actions known in order to taken them as the lead plan to achieve the primary goals of the company, by improving the situation inside and outside of the organization. Moreover, this strategy must focus only on the ultimate goal of the business at long term that is obtaining the correct amount of profits by stating the proper actions to take regarding the competitors, the clients and the stakeholders.

To continue, the business strategy will not include the actions to manage the functional areas of the business due to the fact that those types of decisions are made by managers of lower levels and are not decisions of long term style instead they focuses on the daily operations of the business.