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Identify the true statements about the use of the economic imperative approach by firms in the formulation and implementation of strategy.

It is often employed by firms as part of the implementation of practices that are designed to make quality improvement an ongoing process.

It is used by firms that sell products for which a considerable part of value is created in the upstream activities of the industry's value chain.

It is often used whemno firm's product is viewed as a generic good and hence does not have to be sold based on name brand or support service.

It is used by firms that make strategic decisions based on the merits of the individual situation rather than political factors.