Luehrman’s (1998) Strategy as a Portfolio of Real Options approach to business strategy assumes that?

a. Value to Cost and Volatility can be reliably measured.

b. Business strategy must have flexibility and minimize any downside risk.

c. Business strategy can be assessed as a series of static cashflows.

d. Strategy options fluctuate between the 6 options space regions.

e. Business strategy involves making a sequence of major decisions.