These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.This article is premised on the intuitive notion that, in competitive environments, firms must have strong strategies in order to gain and ensure the best possible positions in such environments, i.e. firms must have strategic positioning. The author examines the Strategic Position and Action Evaluation (SPACE) matrix method for analyzing competitive/strategic position, which takes into account financial strength, competitive advantage, industry strength, and environmental stability. However, the SPACE method’s primary drawback, according to the author, is that it gives each factor equal weight, even though firms rarely encounter challenges where each factor is of equal...
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