Question

Managers of every company should be willing and ready to modify _________.a. the strategy because frequent changes in strategy make it very difficult for rivals to imitate. b. the strategic vision necessitates periodic updating. c. all strategies are reactive. d. the task of crafting strategy is a one-time event. e. market conditions and circumstances are changing over time or the current strategy is clearly failing.

Answer 1

e. market conditions and circumstances are changing over time or the current strategy is clearly failing

Step-by-step explanation:

A strategy refers to a future course of action created with a motive to counter an uncertain future situation in the best possible manner, with the purpose of achievement of organizational goals.

Strategies have to be consistently monitored and evaluated in the light of the prevailing business situation or owing to an anticipated change in the business situation.

The business environment is highly uncertain and dynamic. Thus organizations must be flexible with adoption of modified strategies as per the situation demands. Flexibility with respect to both modification and adoption of strategies is a requisite.

Also it becomes imperative for a business to modify a particular strategy when the dynamics of the environment change and the current strategy is not yielding expected results.