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

question 36

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 (which also has the benefit of keeping 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:

Bankruptcy Statutes

Laws governing the process by which individuals or entities can declare their inability to pay their debts and seek relief from some or all of them.

Debtors

Individuals or entities that owe money or are indebted to another party.

Defaulting Borrower

An individual or entity that fails to meet the legal obligations of loan repayment according to the terms of the loan agreement.

Foreclosure Sale

The process of selling an asset, typically real estate, to fulfill an obligation or debt that the owner has failed to pay.