If Top Management Understands the Customers, Suppliers, Competitors, and How

question 38

Multiple Choice

If top management understands the customers, suppliers, competitors, and how the general environment affects the firm's industry environment, then

• A)it will be a successful company.
• B)a successful strategy will emerge from these factors.
• C)they will have a sound basis for developing an effective strategy.
• D)they can save money by not employing management consultants.

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Definitions:

Evocative

Having the ability to elicit a strong mental, emotional, or physical response.

Person-Environment Interaction

This term describes the dynamic and reciprocal relationship between individuals and their surroundings, where both influence and are influenced by each other.

Role Continuity Principle

A psychological principle suggesting that individuals are more likely to maintain a consistent self-concept and psychological well-being when they can maintain consistent social roles over time.

Consistent Over Time

A principle stating that certain attributes, behaviors, or patterns remain stable across different periods in an individual's life.