A strategy's success is determined not only by the firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors' initial actions. A. True B. False

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Business

Parker Aguilar

10 April, 04:10

A strategy's success is determined not only by the firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors' initial actions. A. True B. False

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Answers (1)

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Cyrus Harrell · Answer 1

A. True

Explanation:

An essential factor governing a strategy refers to it's adaptability. Adaptability is an essential requisite for success of any strategy since the business environment is dynamic.

A firm may draft it's strategy based upon it's strength weakness opportunity and threat analysis or SWOT analysis but inner competitiveness and one's strategies related with inner environment do not suffice.

A firm must also take into consideration the strategies with respect to it's rivals SWOT. Also at the same time, the success of a strategy also depends how well a firm can predict the anticipated reaction/response of the rivals with respect to it's strategies and also decisiveness with respect to how strategies need modification in such scenarios.