Which of following statements is/are true concerning strategy?
A)Once a firm has chosen a strategy,it is unwise to change it,even though the company or business environment might change.
B)If a firm does decide to compete on more than one strategy,it must carefully execute both strategies to be successful.
C)Since the business environment is always changing,rather than stick constantly with one strategy,firms should pay close attention during times of change,and adjust their strategies accordingly.
D)Commodity type products are usually produced by differentiated firms.

Question

Quizplus · Accepted Answer

Strategy should always be adaptable and flexible to respond to changes in the business environment. A firm should pay close attention during times of change and adjust its strategy accordingly. Option A is false because sticking to an outdated or ineffective strategy can be harmful to a firm's success. Option B is also false because attempting to implement multiple strategies can dilute a firm's resources and focus. Option D is irrelevant to the question of strategy.

Which of Following Statements Is/are True Concerning Strategy