A company's strategy is a "work in progress" and evolves over time because of the
A)ongoing need of company managers to react and respond to changing industry and competitive conditions.
B)ongoing need to imitate the new strategic moves of the industry leaders.
C)need to make regular adjustments in the company's strategic vision.
D)importance of developing a fresh strategic plan every year.
E)frequent need to modify key elements of the company's business model.

Question

Quizplus · Accepted Answer

A company's strategy is not a one-time deal but a continuous process. The ongoing need of company managers to respond to changing industry and competitive conditions ensures that the strategy remains a "work in progress" and continues to evolve over time. Thus, option A is the correct choice. Options B, C, D, and E are not entirely wrong, but they are not as comprehensive as option A.

A Company's Strategy Is a "Work in Progress" and Evolves