Strategic fit refers to: The need for a firm’s strategy to be consistent with it

Question

Strategic fit refers to:

The need for a firm’s strategy to be consistent with its vision, mission, and culture

The consistency of a firm’s strategy with its external and internal environments

The need for a firm’s strategy to be unique

The need for a firm’s strategy to meet the needs of all its stakeholders, not just shareholders

The need for a firm’s strategy to be consistent with its vision, mission, and culture

The consistency of a firm’s strategy with its external and internal environments

The need for a firm’s strategy to be unique

The need for a firm’s strategy to meet the needs of all its stakeholders, not just shareholders

Explanation / Answer

Answer: B The consistency of a firm’s strategy with its external and internal environments.

Stratergic fit refers to the optimal utilization of the available resources of the organization to grab all the opportunities in the external environment to achieve the best optimization. It is the consistency of firm's strategy with the firm's external and internal environment. A particular project or venture is chosen based on the availability of resources.

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