To Successfully Manage a Strategic Commitment, a Firm Should Have

question 21

Essay

To successfully manage a strategic commitment, a firm should have four characteristics--a clear future strategy, assets, competencies, and resources to implement the strategy, and _________, and _________.

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Definitions:

Procedural Fairness

The perception that the processes and methods used to make decisions and resolve disputes are fair and impartial.

Innovation Diffusion

Innovation diffusion is the process by which a new idea, product, or technology spreads through cultures and societies, from its origin to widespread adoption.

Product Life Cycle

The stages through which a product moves from its introduction into the market through its growth, maturity, and eventual decline.

Maturation

The process of growth and development, either in biological organisms or in organizations as they evolve and reach full potential.