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

question 40

Multiple Choice

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

• A) the ongoing need of company managers to react and respond to changing industry and competitive conditions.
• B) the ongoing need to imitate the new strategic moves of the industry leaders.
• C) the need to make regular adjustments in the company's strategic vision.
• D) the importance of developing a fresh strategic plan every year.
• E) the frequent need to modify key elements of the company's business model.

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Definitions:

Situational Approach

A leadership theory suggesting that the most effective leadership style varies according to the situation and the followers' needs.

Authentic Leadership

A leadership style that emphasizes genuineness and integrity, where leaders are true to themselves and their values.

Servant Leadership

A leadership philosophy which emphasizes the leader's primary role as serving the needs of their team members, stakeholders, and the community.

Team Definition

The process of identifying the purpose, roles, and responsibilities of a team to ensure clarity and effectiveness in achieving collective goals.