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:

Negative Punishment

A behavior modification technique involving the removal of a desirable stimulus following an unwelcome behavior with the intention of decreasing that behavior's frequency.

Negative Reinforcement

A behavioral principle where the removal of an unpleasant stimulus following a desired behavior increases the likelihood of that behavior being repeated.

Positive Reinforcement

The addition of a rewarding stimulus following a behavior, intended to increase the likelihood of that behavior reoccurring.

Behaviorism

A branch of psychology that focuses on (relatively) simple explanations for outward behavior and is unconcerned with the inner workings of the mind.