Managers must chart a company's strategic course by
A)focusing on the local environment in which they are operating.
B)ensuring excess production capacity and/or inventory.
C)competing fiercely for a share in the market.
D)building a bigger dealer network.
E)developing a thorough understanding of the company's external and internal environment.

Question

Quizplus · Accepted Answer

Developing a thorough understanding of the company's external and internal environment is crucial for managers to chart a company's strategic course. This helps the managers to identify the company's strengths, weaknesses, opportunities, and threats, which will enable them to formulate effective strategies to achieve the company's goals and objectives. Focusing on the local environment, ensuring excess production capacity, competing fiercely for market share, or building a bigger dealer network may not necessarily lead to strategic success if the managers do not have a comprehensive understanding of the company's overall environment.

Managers Must Chart a Company's Strategic Course by