The faster a company's business environment is changing, the more critical it becomes for its managers to
A)pay attention to early warnings of future change and be willing to experiment to establish a market position in the future.
B)determine whether the company has a balanced scorecard for judging its performance.
C)establish controls to monitor the impact of external changes appropriately and ensure the internal environment is maintained.
D)replicate and implement only those strategies that have worked for rivals.
E)determine what changes should be made to its customer value proposition.

Question

Quizplus · Accepted Answer

In a fast-changing business environment, it is crucial for managers to pay attention to early warnings of future change and be willing to experiment to establish a market position in the future. This will help the company to adapt and respond to changes in the market quickly and effectively. Option B, C, D are not as effective as they are not addressing the core issue of adapting to change in a timely manner. Option E is too narrow as it only focuses on the customer value proposition, whereas there may be other areas of the business that need attention during periods of rapid change.

The Faster a Company's Business Environment Is Changing, the More