Explain Why a Company's Strategy Cannot Be Completely Planned Out

question 28

Essay

Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time, once-and-for-all managerial exercise. Identify at least three factors that account for why company strategies evolve.

---

Definitions:

Customer Orientation

A strategy in business aimed at recognizing and satisfying the demands and anticipations of clients.

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interactions with stakeholders.

Managerial Accounting

The practice of identifying, measuring, analyzing, and interpreting accounting information for internal decision making.

Just-in-Time Manufacturing

A manufacturing approach aimed at enhancing a company's investment returns by minimizing both the inventory in process and the related holding expenses.