A firm's strategic focus will change over time due to the dynamic nature of internal and external environments.

Strategic Focus

The act of concentrating resources and attention on a specific strategic business goal or area to gain competitive advantage.

Internal Environments

The internal components of an organization, such as employee relations, management policies, and procedural frameworks, that shape its operational dynamics.

External Environments

The external factors and forces outside an organization that can affect its performance, such as economic conditions, competition, and regulation.