Examlex
Being in a single line of business,you do not need to develop a grand strategy or conduct a portfolio analysis.However,you should have an adaptive and competitive strategy based on the product life cycle.
Stage of the product life cycle
Adaptive and competitive strategies (explain each briefly)
Common Sense
Practical judgement concerning everyday matters, or a basic ability to perceive, understand, and judge things shared by nearly all people.
Learned System
A body of knowledge or behaviors acquired through experience or education rather than being instinctual.
Beliefs
Convictions or acceptances that something exists or is true, especially without proof.
Norms
Societal or group-established standards of behavior.
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