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A company's strategy Is a "work in progress" and evolves over time because of the importance of copying the latest strategic moves of the industry leader. an ongoing need to make periodic adjustments in the company's business model. the ned to react and respond to changing market and competitive conditions and ongoing management efforts to improve this or that piece of the strategy. the importance of developing a fresh strategy at least once a year in order to keep rivals busily engaged in making defensive adjustments to protect their market positions. an ongoing need to experiment with new and/or different ways to outmaneuver rivals, gain market share, and boost the company's stock price