Despite the Theories and Tools for Analysing Strategic Position, Many

question 17

Multiple Choice

Despite the theories and tools for analysing strategic position, many major firms fail:

• A)Because the senior managers are too wedded to a former "recipe for success" which always worked in the past.
• B)Because they believe in their own unassailable position
• C)Because they fail to recognise that technology and/or customer needs have moved on
• D)Any of the above reasons - which is not an exhaustive set.

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Definitions:

Reduction Strategy

Approaches businesses use to downsize, reduce costs, or streamline operations, often involving layoffs or selling off assets.

Implications

The possible effects or consequences that may result from a particular action or decision.

Market Wage Rates

The prevailing pay scale for work in a particular industry, occupation, or region, determined by the supply and demand for labor in the market.

Forecasting

The process of making predictions about future events or trends based on historical data and analysis.