Acme Valves, Inc., has been a successful player in the oil field supply industry in the last 15 years. Acme maintained its traditional strategy and product characteristics over this time period. But, Acme has experienced declines in sales and profits over the last four quarters. The CEO of Acme should

Question

Quizplus · Accepted Answer

Given the recent decline in sales and profits, it is important for the CEO to conduct an analysis of the external environment to identify any changes or trends that may be affecting the industry. This will help the CEO determine whether the decline in sales is due to internal factors or external factors. Based on the findings, the CEO can then make informed decisions about whether to continue with the proven strategy or make incremental adjustments, and whether to focus on improving production efficiency or other areas of the business. Therefore, conducting an analysis of the external environment would be the best choice for the CEO of Acme Valves, Inc. in this situation.