The faster a company's business environment is changing only makes it imperative for strategy makers to:
A) pay attention to early warnings of future change and be willing to experiment to establish a market position in the future.
B) stay abreast of the changes by developing a comprehensive knowledge management system to monitor the environment.
C) establish controls to ensure the impact of any changes is monitored appropriately and ensure the internal environment is maintained.
D) align their decision-making with organizational unit objectives.
E) develop financial objectives that reflect the implications of change and that meet the internal environment's functional focus.

Question

Quizplus · Accepted Answer

In a fast-changing business environment, strategy makers need to pay attention to early warnings of future change and be willing to experiment to establish a market position in the future. This approach allows for agility and adaptability, which are essential in such an environment. Staying abreast of changes through a knowledge management system and establishing controls are important, but they are not enough to ensure competitiveness and success in a rapidly evolving market. Aligning decision-making with organizational objectives and developing appropriate financial objectives are also crucial, but these actions should be taken in the context of a willingness to experiment and establish a leading position in the future.

The Faster a Company's Business Environment Is Changing Only Makes