A Company's Strategy Is a "Work in Progress" and Evolves

question 66

Multiple Choice

A company's strategy is a "work in progress" and evolves over time because of:

• A) the importance of developing a fresh strategic plan every year that keeps employees from becoming bored with executing the same strategy year after year.
• B) the ongoing need to imitate the new strategic moves of the industry leaders.
• C) the need to make regular adjustments in the company's strategic vision.
• D) the ongoing need of company managers to react and respond to changing market and competitive conditions.
• E) the frequent need to modify key elements of the company's business model.

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Definitions:

Episodic Memory

The type of long-term memory that involves the recollection of specific events, situations, and experiences.

Procedural Memory

A type of long-term memory that involves the unconscious memory of skills and how to perform tasks.

Semantic Memory

Semantic memory refers to a part of long-term memory responsible for storing information about the world, such as facts, concepts, and meanings.

Eidetic Memory

The ability to recall images, sounds, or objects in memory with high precision and detail, often for a short period after exposure.