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Environmental Factors and the Effect on Company Strategy

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Provide an example of an industry or company that has changed its strategy over time as environmental factors such as technology, competition, and consumer preferences have changed. Explain the changes in the environment and in the industry's or company's evolving strategy.

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The auto industry has changed its' strategy over time as technology, competition, and consumer preferences have changed. Consider the beginning of the industry: in the early 1900's the thrust was to get cars into the marketplace. Ford standardized the Model T, dropped the price by 2/3 and as a result sold cars to 15.5 million customers GM got involved with an offer of style to entice customers. As time went on, new models were added, segmenting the industry to train the consumer to think they needed to own several vehicles to handle the different aspects of their ...

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