Which strategy is appropriate when an organization competes in an industry characterized by rapid technological developments?
A) retrenchment
B) product development
C) backward integration
D) liquidation
E) market penetration

Question

Quizplus · Accepted Answer

When an organization competes in an industry characterized by rapid technological developments, it is important to continuously develop new products to keep up with the competition and meet the evolving needs of customers. Therefore, the most appropriate strategy would be product development. Options A, C, D, and E are not suitable for this type of industry.

Which Strategy Is Appropriate When an Organization Competes in an Industry