To achieve greater strategic flexibility,firms must:
A) hire additional personnel.
B) adapt quickly to changes in their competitive landscape.
C) report net losses for a period of three years.
D) acquire competing firms.

Question

Quizplus · Accepted Answer

To achieve greater strategic flexibility, firms must adapt quickly to changes in their competitive landscape. This allows them to respond to new market trends, customer preferences, and emerging technologies in a timely and effective manner, which can help to maintain their competitive advantage and improve their long-term prospects. Hiring additional personnel may be helpful, but it is not sufficient on its own to improve strategic flexibility. Reporting net losses is not desirable for any firm, and acquiring competing firms may not always be necessary or beneficial for achieving greater strategic flexibility.

To Achieve Greater Strategic Flexibility,firms Must