Question

Firms that were successful in the past can fail today because A) they keep pace with changes in the nature of competition. B) the company strategy is outdated. C) their financial situation is resilient. D) management monitors the relevant environmental factors regularly.

Answer 1

Answer:

b

Explanation:

If a company's strategy is outdated, the company might fail today.

For example, let us assume that all companies in an industry advertise on social media and tailor their products to the teenagers. But a company continues to advertise only on radio and newspaper. Very soon  the company will fail.

Or if a media company doesn't incorporate social media to reach customers. With less people reading newspaper, if the company sticks only to newspapers, soon it would fail

other options contribute to success of a firm