As a part of strategy formulation, a firm's functional strategy primarily concerns questions relating to when to compete. where to compete. how to implement business strategy. how to enter target markets.

C). how to implement business strategy.

Explanation:

Strategy formulation is defined as the process in which an organization selects the most appropriate and viable course of action to achieve its intended goals. It is one of the crucial steps as it helps in preparing the required framework for the attainment of desired outcomes. Thus, as an element of strategy formulation, the functional strategy of a firm would primarily focus on 'the ways to implement business strategies effectively' because then only maximum resources((skills and potential of each department and their employees), as well as productivity, can be ensured which is the path(short-term objective) to achieve the bigger goal eventually. Thus, option C is the correct answer.

answertaxable income;