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

question 18

Multiple Choice

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

• A)ongoing need of company managers to react and respond to changing industry and competitive conditions.
• 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)importance of developing a fresh strategic plan every year.
• E)frequent need to modify key elements of the company's business model.

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Definitions:

Good Data

High-quality, accurate, and reliable information that is collected and analyzed according to rigorous standards, often used for decision making and research.

Ethnography

Ethnography is a qualitative research method used in social sciences, particularly anthropology, where researchers immerse themselves in a community to observe and document its cultural practices.

Commercial Purposes

Pertains to activities or endeavors undertaken with the intention of generating profit or financial gain.

Heisenberg Uncertainty Principle

A fundamental theory in quantum mechanics that states it is impossible to simultaneously know both the exact position and exact velocity of a particle.