Selecting and adhering to a single competitive strategy is sufficient to counter all of Porter's five forces and be successful in the long term.

Question

Quizplus · Accepted Answer

While selecting and adhering to a competitive strategy is an important part of a company's success, it is not sufficient to counter all of Porter's five forces. To be truly successful and sustainable in the long term, companies must also continuously analyze and adapt to changes in the market and their competitors. Additionally, other factors such as macroeconomic trends and technological advancements can also impact a company's success.

Selecting and Adhering to a Single Competitive Strategy Is Sufficient