Key question addressed by strategic management is "Why do some firms outperform other firms?" In other words, it examines how actions and events involving top executives, firms and industries influence a firm's success or failure?

The answer: ''In other words, it examines how actions and events involving top executives, firms and industries influence a firm's success or failure'' is correct.

Explanation:

To begin with, in the field of business the managers tend to be very agressive and competitive in order to set their companies in the top of the industry and therefore to obtain the maximun profits as possible.

To continue, the strategic management group wonder themself why do some firms outperform other firms and the answer to that question has many factors that influece the situation where that happens, in other words, it is normal that many companies with less resources, such as money or human knowledge, tend to give a worst performance that other companies that count with executives with huge experience or better economic situations in the industry. Moreover, it is known that the companies with a manager that knows how to manage the business with the resources it has and how to comprehend the situation where it heads will perform at a higher level than the other.