The underlying principle of a strategic approach to the study of retailing is that a retail firm needs to plan and revise its plans continually in order to adapt to a changing environment.

True or False?

The statement is: True.

Explanation:

At its basics, strategic approaches collect the sets of plans and steps companies must have to face changing environments, competition, and unexpected events that could arise during the course of conducting business. During that time, the approaches must be reviewed to adapt them to the current situation of the firm.