Final answer:
The correct answer to the question is that strategy entails the development of a position that is both unique and valuable, enabling an entity to stand out in a competitive environment.
Step-by-step explanation:
The concept of strategy involves an approach or plan designed to achieve a certain goal, often in situations such as business planning or problem solving. In the context of business, strategy refers specifically to the creation of a unique and valuable position, which involves being different from competitors in a way that adds value for customers. This can mean choosing a different set of activities to deliver a distinct mix of value or serving different markets.
Answering the student's question, option C is correct: Strategy is defined as the development of a position that is both unique and valuable. A well-defined strategy helps a business or organization leverage its strengths, minimize weaknesses, and potentially outperform competition by offering something that is distinct and appealing to its customers.