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

question 73

Multiple Choice

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

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

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Definitions:

Leader Evaluations

The assessment of an individual's performance and qualities in a leadership role.

Charisma

Charisma means possessing a compelling attractiveness or charm that can inspire devotion in others, often seen in leaders.

Past Performance

A historical record of an individual's or organization's achievements, used as an indicator of future success.

Charismatic Chief Executives

Leaders at the highest level of an organization who possess a magnetic personality and the ability to inspire and motivate others through their vision and personal appeal.