Ba490 Midterm
QUESTION 9 Which is more important in explaining the success and failure of companies: strategizing or luck? Strategizing is more important than luck in explaining the success and failure of companies. The strategy has to be involved when a company is setting goals to make sure their products are of high quality knowing what to and not to do in maintaining the quality of their products. Doing things in a particular order and keeping inventory ways that their product stay current and unique. Strategy and luck both are important contributors to the success or failure of the firm. But, for consistent performance luck cannot be believed to have a major impact on success or failure. Superior productivity, high quality, innovative products, and customer responsiveness are truly the main factors affecting the results. To have an upper hand over the competitors, the firm has to rely largely upon its efficient employees, technological advancement and other strategies play an important role. At that point of time luck itself cannot be able to manage its competitor. But there are arguments that emphasize that the luck factor in cases like Microsoft Corporation is the sole factor of its success in a long period of time.
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