A company's strategy evolves over time as a consequence of
A) the need to keep strategy in step with changing market conditions and changing customer needs and expectations.
B) the proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy.
C) the need to abandon some strategy features that are no longer working well.
D) the need to respond to the newly-initiated actions and competitive moves of rival firms.
E) All of these.

Question

Quizplus · Accepted Answer

All of the options listed are factors that contribute to the evolution of a company's strategy over time. The need to stay in step with changing market conditions, customer needs and expectations requires ongoing assessment and adjustment of the company's strategy. Proactive efforts to fine-tune and improve the strategy are necessary to maintain competitiveness and take advantage of opportunities. Abandoning some strategy features that are no longer effective plays a role in evolving the strategy to better align with the company's goals. And responding to the actions of rival firms is also an important factor in adjusting a company's strategy to stay competitive. All of these factors work together to shape a company's overall strategy over time.

A Company's Strategy Evolves Over Time as a Consequence of