Which strategy is appropriate when an organization competes in an industry characterized by rapid technological developments?
A)Product development
B)Liquidation
C)Market penetration
D)Backward integration
E)Retrenchment

Question

Quizplus · Accepted Answer

Rapid technological developments require organizations to continuously innovate and update their products in order to stay competitive. Product development helps organizations to keep up with these changes and offer new and improved products to customers. It also allows organizations to differentiate themselves from their competitors by offering unique features and functionalities.

Which Strategy Is Appropriate When an Organization Competes in an Industry