When a Firm's External Environment Becomes More Turbulent and Unpredictable

question 33

Multiple Choice

When a firm's external environment becomes more turbulent and unpredictable:

• A)Strategy becomes an increasingly important in providing direction for the business
• B)Strategy becomes based upon intuition rather than analysis
• C)Cost cutting becomes a dominant priority
• D)Strategy becomes an impossible exercise

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Definitions:

Special Expertise

Possession of high-level knowledge or skills in a specific area, making an individual exceptionally qualified in that domain.

Clients

Individuals or entities that seek and use the professional services or advice of a company or professional.

Agile Manufacturing

A method of manufacturing which emphasizes flexibility and adaptability to respond rapidly to customer needs and market changes.

Automated Operations

The use of technology to perform tasks or processes automatically, typically involving minimal human intervention.