Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases 23th edition
A) their need to keep strategy in step with changing circumstances, market conditions, and changing customer needs and expectations.
B) the proactive efforts of their managers to fine-tune and improve one or more pieces of the strategy.
C) their need to abandon some strategy features that have been faltering or are no longer working well.
D) their need to respond to the newly initiated actions and competitive moves of manufacturers of autonomous vehicles.
E) their need to respond to short-term swings in the stock market that impact timing of an initial public offering (IPO).
30) A "repeatedly evolving strategy" best applies to a
A) console gaming hardware and software manufacturer, established in a saturated market, that plans its research and development activities to allow for quarterly releases of new products that match or overtake features of rivals' gaming platforms.
B) manufacturer and marketer of home fitness equipment and subscription services for socially distant workout sessions.
C) start-up natural cosmetics manufacturer that replicates the products of rivals but at a comparable quality and lower price.
D) regional supermarket chain that specializes in catering to Hispanic and Latinx consumers.
E) not-for-profit housing agency that formulates urban redevelopment plans during a four-year window of time and implements them phase by phase over that period.
31) Managers of every company should be willing and ready to modify their strategies because
A) market conditions and circumstances are changing over time or the current strategy is clearly failing.
B) the task of crafting strategy is a one-time event.
C) the strategic vision necessitates periodic updating.
D) frequent changes in strategy make it very difficult for rivals to imitate.
E) all strategies are reactive.
32) Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and constantly evaluating what is working result in
A) an assured profitability strategy.
B) a broad market entry strategy.
C) an emergent strategy.
D) unlimited revenue generation.
E) a proactive strategy.
33) Managers must be prepared to modify their strategy except when
A) changing circumstances affect performance and the desire to improve the current strategy.
B) rivals make or adjust moves in the market due to the shifting needs of buyers.
C) encountering stagnating market conditions and increasingly restrictive new customer acquisition opportunities.
D) evidence is mounting that the current strategy is becoming less effective.
E) rivals announce their monthly profit margins in public.
34) A company's strategy is a "work in progress" and evolves over time because of the