A firm's ability to respond to change:
A)Requires just one key resource: information
B)Impacts its competitive advantage as well
C)Does not impact its competitive advantage
D)Is a classic and not novel issue in strategic management

Question

Quizplus · Accepted Answer

An organization's ability to respond to change is a critical aspect of its competitive advantage, as it enables the firm to adapt to changing market conditions, customer preferences, and technological advancements. This ability is therefore a key strategic concern, and firms that are more agile and capable of responding to changes in their environment are likely to outcompete those that are slower to adapt. While information is an important resource for responding to change, it is not the only key resource that firms need to possess. Additionally, the issue of organizational agility is an ongoing one that requires firms to continuously adapt and evolve, making it a novel and dynamic challenge within strategic management.

A Firm's Ability to Respond to Change