In the Course of Crafting a Strategy,it Is Common for Management

question 31

Multiple Choice

In the course of crafting a strategy,it is common for management to:

• A) abandon certain strategy elements that have grown stale or become obsolete.
• B) modify the current strategy when market and competitive conditions take an unexpected turn or some aspects of the company's strategy hit a stone wall.
• C) modify the current strategy in response to the fresh strategic maneuvers of rival firms.
• D) take proactive actions to improve this or that piece of the strategy.
• E) All of these.

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Definitions:

Corporate Giant

A large, typically multinational company with a significant impact on the industry and economy.

Strategic Planning

The process of defining an organization's strategy or direction and making decisions on allocating its resources to pursue this strategy, including its capital and people.

Developing Objectives

The process of establishing specific, measurable, achievable, relevant, and time-bound goals that an organization aims to reach.

Consumer Confidence

A measure of how optimistic or pessimistic consumers are about the overall state of the economy and their personal financial situation.