Asked by Abigail Orozco on Jun 03, 2024
Verified
Studies show that firms with externally focused strategies outperform firms with internally focused strategies.
Externally Focused Strategies
Business tactics that prioritize external market conditions and customer needs over internal considerations.
Internally Focused Strategies
Approaches within a business that concentrate on improving internal processes, resources, and capabilities to meet organizational goals and objectives.
- Comprehend the impact of strategy focus (external vs. internal) on firm performance.
Verified Answer
IR
Isaac RodgersJun 05, 2024
Final Answer :
False
Explanation :
Studies do not universally show that firms with externally focused strategies outperform those with internally focused strategies. Performance can depend on various factors including industry context, market conditions, and the specific implementation of the strategy.
Learning Objectives
- Comprehend the impact of strategy focus (external vs. internal) on firm performance.