If top management understands the customers, suppliers, competitors, and how the general environment affects the firm's industry environment, then
A)it will be a successful company.
B)a successful strategy will emerge from these factors.
C)they will have a sound basis for developing an effective strategy.
D)they can save money by not employing management consultants.

Question

Quizplus · Accepted Answer

Understanding the customers, suppliers, competitors, and how the general environment affects the firm's industry environment is crucial for developing an effective strategy. Therefore, top management will have a sound basis for developing an effective strategy with this understanding. It does not necessarily mean the company will be successful, and it may or may not save money by not employing management consultants.

If Top Management Understands the Customers, Suppliers, Competitors, and How