When Visa and MasterCard began to differentiate their cards based on prestige, American Express learned which lesson about strategic management?
A) A firm must remain inflexible with its plan.
B) A firm must plan long-term.
C) When competitors learn how to copy the strategy, a firm has to reformulate to stay ahead.
D) all of the above

Question

Quizplus · Accepted Answer

American Express learned that when competitors copy their strategy, they need to reformulate to stay ahead. This highlights the importance of adaptability and agility in strategic management. The other options (A and B) do not accurately reflect the lesson learned by American Express in this situation.

When Visa and MasterCard Began to Differentiate Their Cards Based