Which of the following is essential for the development and implementation of strategies by a firm?
A)An understanding of the firm's resources and capabilities
B)An understanding of the professional backgrounds of its managers
C)Investment in physical capital
D)A low tax rate

Question

Quizplus · Accepted Answer

The understanding of the firm's resources and capabilities is essential in order to develop and implement effective strategies. This will allow the firm to identify its strengths and weaknesses and determine how best to leverage its resources to achieve its goals. The other options (B, C and D) may be important factors for a firm's success, but they are not as essential as having a clear understanding of the firm's resources and capabilities.

Which of the Following Is Essential for the Development and Implementation