Why Does a Company's Strategy Tend to Evolve Over Time

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The Answer is Changing circumstances and ongoing management efforts to improve the strategy cause a company's strategy to evolve over time-a condition that makes the task of crafting strategy a work in progress,not a one-time event.Most of the time,a company's strategy evolves incrementally as management fine-tunes various pieces of the strategy and adjusts the strategy in response to unfolding events.However,on occasion,major strategy shifts are called for,such as when the strategy is clearly failing or when industry conditions change in dramatic ways.Industry environments characterized by high-velocity change require companies to repeatedly adapt their strategies.

Why Does a Company's Strategy Tend to Evolve Over Time

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