A Strategy's Success Is Determined Not Only by the Firm's

question 93

True/False

A strategy's success is determined not only by the firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors' initial actions.

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Definitions:

Reciprocity

The mutual exchange of goods, services, favors, or support between individuals or groups, expecting a similar benefit in return.

Norm

A standard or guideline that is accepted and expected within a group, culture, or society, dictating behavior that is considered normal or appropriate.

Reciprocity

A social exchange principle where the actions of one party lead to a response by another party, typically in a manner that mirrors the original action.

Norm Of Reciprocity

A social expectation that dictates individuals should return favors and kindnesses that others have provided to them, creating a basis for cooperative behavior.