A company's strategy evolves from one version to the next because ofO the imperative of making periodic strategy adjustments to keep the strategy in step with management's ongoing efforts tofreshen and update the company's business model$--$changes in a company's business model necessitate changes in strategy.O ongoing turnover in the managerial and executive ranks $($new managers typically see merit in shifting to a different strategy$).$O changing management conclusions about which of several appealing business models and strategy alternatives will work best,given the company's situation.O $(1)$ management decisions to abandon certain strategy elements that are obsolete or not working well, $(2)$ newly$-$craftedmanagement efforts to improve the company's financial performance and secure a competitive edge and $(3)$ an ongoing need toreact and respond to unanticipated developments and fresh market conditions.the need for a company to be proactive in responding to the fresh actions of competitors.Copying, redistributing, or website posting is expressly prohibited and constitutes