A Group of Firms in an Industry Following the Same

question 37

True/False

A group of firms in an industry following the same or a similar strategy in a given target market is known as a strategic group.

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Definitions:

Chance

The occurrence of events in the absence of any deliberate design or predictable cause.

Motivation

The reason or reasons one has for acting or behaving in a particular way; an internal process that makes a person move toward a goal.

Performance

The act of executing a task or function, often measured against predefined standards.

Goal Specificity

The extent to which a goal is detailed, explicit, and clear as opposed to vague or general.