Which of the following statements about the SMEs' strategy-making process is TRUE?

Question 10Select one:

If a small company operates in a growing industry, it is more likely to use the adaptive strategy-making approach.

The participative approach to the strategy-making process implies strong engagement of external stakeholders.

A small company's choice of a strategy-making approach depends on the life cycle of the industry it operates in.

Small companies that operate in mature industries usually choose a simplistic approach to strategy making.