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.

Question

Quizplus · Accepted Answer

A company's strategy is never a one-time event or a static document. Rather it is a dynamic work in progress that is subject to ongoing refinement and adjustment. Changing industry and competitive conditions are the primary reasons that force managers to react and respond to evolving circumstances. This is why it is very rare for a company to stick to a fixed strategic plan without any modifications over a long period of time.

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