In determining the various strategic issues that a company needs to address, managers need to consider BOTH the results of its analysis of the company's external environment and the results of its evaluation of the company's resources and competitive position. True or false? Explain and defend your answer.

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Quizplus · Accepted Answer

Managers need to draw on the results of both industry analysis and the evaluations of the company's internal situation. The task here is to get a clear fix on exactly what strategic and competitive challenges confront the company, which of the company's competitive shortcomings need fixing, and what specific problems merit company managers' front-burner attention. Pinpointing the precise things that management needs to worry about sets the agenda for deciding what actions to take next to improve the company's performance and business outlook.

In Determining the Various Strategic Issues That a Company Needs