Reactive Change Conditions Include

question 4

Multiple Choice

Reactive change conditions include:

• A)Realization of the need to quickly change the strategy because company perfor-mance is rapidly sinking and it is a crisis.
• B)Management believes it must always monitor changes in the competitive envi-ronment and be ready for the need to react.
• C)Firm performance is still rising, but more slowly, and there may be a need to change strategies in anticipation of worse future results.
• D)Firm performance is starting to tail down slowly but there is no crisis yet.

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Definitions:

Fair Bet

A wager in which the expected value to both parties involved is equal; no side has an advantage.

Standard 52-card Deck

A common set of playing cards used for a variety of games, consisting of four suits with thirteen ranks each.

Decreasing Slope

A downward trend on a graph indicating that one variable decreases as another variable increases.

Risk-loving

A preference for options with uncertain outcomes, even when the expected return is the same as safer alternatives.