In the context of managerial approaches
A) the best managers today embrace change by moving from contemporary managerial approaches to classic managerial approaches.
B) if one does not anticipate change and adapt to it, one's firm will not thrive in a competitive business environment.
C) management knowledge and practices remain constant in the face of change.
D) change prevents businesses from achieving greater quality and speed.
E) change is happening at a slower rate than at any other time in history.

Question

Quizplus · Accepted Answer

In order for a firm to thrive in a competitive business environment, it is crucial for managers to anticipate change and adapt to it. This requires embracing new managerial approaches and continuously evolving practices. The idea that classic managerial approaches are preferable or that management knowledge and practices remain constant in the face of change is outdated and ultimately detrimental to a firm's success. Additionally, the statement that change prevents businesses from achieving greater quality and speed is incorrect; in fact, adapting to change can often lead to improvements in both of these areas. Finally, the assertion that change is happening at a slower rate than at any other time in history is simply not true.

In the Context of Managerial Approaches