‘Once upon a time, a typical large corporation had the luxury of developing and implementing a long term strategy to build and sustain competitive advantage, and secure profitability. Now everything is more short term and more uncertain, with the result that strategy (and profitability) becomes much more difficult.’

Critically evaluate this statement, drawing on academic literature and company examples to support your arguments.

Note:
This is a ‘seen’ paper which means you have the questions in advance. You cannot take any materials (books, notes, papers, electronic devices) into the exam room with you