If a Planned Strategy Is Fully Compatible with the Company's

question 8

Multiple Choice

If a planned strategy is fully compatible with the company's current culture, what should the company do?

• A) Find a joint-venture partner or contract with another company to carry out the strategy.
• B) Implement new strategy and identify how it is superior to the old strategy.
• C) Move forward very carefully by introducing small steps and modifications before implementation.
• D) Manage around the culture by establishing a new structural unit to implement the new strategy.
• E) none of these.

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Definitions:

Price-Taker Firms

Companies that accept the market price as given and have no influence to change the price of the goods or services they sell.

Expand

Refers to the process of growth or increase in size, volume, number, or scope.

Contract

A legally binding agreement between two or more parties that outlines obligations, rights, and conditions under which a transaction or exchange will occur.

Market Entry

The act of bringing a new product or service to market, including the challenges and strategies involved in successfully engaging with a new or existing market.