Managers of Every Company Should Be Willing and Ready to Modify

question 43

Multiple Choice

Managers of every company should be willing and ready to modify their strategy because

• A)market conditions and circumstances are changing over time or the current strategy is clearly failing.
• B)the task of crafting strategy is a one-time event.
• C)the strategic vision necessitates periodic updating.
• D)frequent changes in strategy make it very more difficult for rivals to imitate.
• E)all strategies are reactive.

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Definitions:

Agrichemical Laboratory

A facility specialized in the study, testing, and development of chemicals used in agriculture, such as fertilizers and pesticides.

Marketing Budget

An allocation of financial resources set aside specifically for marketing activities aimed at achieving business objectives.

Promotional Element

Components of a promotional mix used by companies to communicate with their target markets, including advertising, public relations, and personal selling.

Public Relations

The practice of managing and disseminating information from an individual or organization to the public in order to influence their perceptions.