### Understanding the Question
The question is asking about a term that firms use to describe the process of translating their strategy into action.

### Analyzing the Options
1. **Triple Bottom Line**: This refers to the three pillars of sustainability: social, environmental, and economic impact. Not directly related to strategy execution.
2. **VRIO Framework**: This is a tool used for internal analysis to assess a company's resources and capabilities; more about analysis than execution.
3. **Business Model**: This term refers to the way a company creates, delivers, and captures value. It often encompasses the strategy but not necessarily the execution of strategy.
4. **Scorecard Plan**: This typically refers to performance measurement tools like the balanced scorecard that help monitor strategic execution.

### Conclusion
The most relevant choice for describing how firms turn strategy into action is the **business model**, as it covers the operational aspects of executing a firm's strategy.

### Final Answer
**Business Model**

Question

### Understanding the Question
The question is asking about a term that firms use to describe the process of translating their strategy into action.

### Analyzing the Options
1. **Triple Bottom Line**: This refers to the three pillars of sustainability: social, environmental, and economic impact. Not directly related to strategy execution.
2. **VRIO Framework**: This is a tool used for internal analysis to assess a company's resources and capabilities; more about analysis than execution.
3. **Business Model**: This term refers to the way a company creates, delivers, and captures value. It often encompasses the strategy but not necessarily the execution of strategy.
4. **Scorecard Plan**: This typically refers to performance measurement tools like the balanced scorecard that help monitor strategic execution.

### Conclusion
The most relevant choice for describing how firms turn strategy into action is the **business model**, as it covers the operational aspects of executing a firm's strategy.

### Final Answer
**Business Model**

Knowee AI · Accepted Answer

### Understanding the Question
The question is asking about a term that firms use to describe the process of translating their strategy into action.

### Analyzing the Options
1. **Triple Bottom Line**: This refers to the three pillars of sustainability: social, environmental, and economic impact. Not directly related to strategy execution.
2. **VRIO Framework**: This is a tool used for internal analysis to assess a company's resources and capabilities; more about analysis than execution.
3. **Business Model**: This term refers to the way a company creates, delivers, and captures value. It often encompasses the strategy but not necessarily the execution of strategy.
4. **Scorecard Plan**: This typically refers to performance measurement tools like the balanced scorecard that help monitor strategic execution.

### Conclusion
The most relevant choice for describing how firms turn strategy into action is the **business model**, as it covers the operational aspects of executing a firm's strategy.

### Final Answer
**Business Model**

With a(n) Blank______, firms describe how they turn strategy into action.Multiple choice question.triple bottom lineVRIO frameworkbusiness modelscorecard plan

Question

With a(n) ______, firms describe how they turn strategy into action.

Solution

Understanding the Question

Analyzing the Options

Conclusion

Final Answer

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