Strategy needs to take account of both the requirements of the firm$$s external environment and the firm$$s own resources and capabilities. Resources and capabilities rather than requirements of the external environment offer a stronger basis for strategy formulation when:

Question $7$Select one:

a$.$

The firm is engaged in the exploitation of natural resources such as petroleum or metal.

b$.$

The external environment is in a state of flux.

c$.$

When the firm is supplying producer goods rather than consumer goods.

d$.$

When the firm is a multinational corporation.