Managers must chart a company's strategic course by Multiple Choice ensuring excess production capacity and/or inventory. building a bigger dealer network. ensuring that marketing and promotion programs are state-of-the-art. developing a thorough understanding of the company's external and internal environments. competing fiercely for a share in the market.

The correct answer is the fourth option: developing a thorough understanding of the company's external and internal environments.  

Explanation:

To begin with, in order to understand that a company's strategy must be guided by thorough understanding of its external and internal environments it is necessary to understand that the system proposed is formed by several factors that influence it and therefore that a manager must study carefully those factors and that system in order to guide the company to a successful work and accomplish the goals by using a strategy that compresses all the information about those factors.

answer; exemplars;

answer(d) all of the choices are correct;