Changing the Industry Structure Is

question 7

Multiple Choice

Changing the industry structure is:

• A)Not really within the power of a single firm.
• B)An endeavor that firms are undertaking on a permanent basis with great success
• C)A risky strategic move that may backfire, because of retaliation from the industry's incumbents
• D)Sometimes possible even by small firms, if the mix of drivers for change and existing structure make it susceptible to change

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Definitions:

Accounts Payable

Liabilities or amounts owed by a business to its creditors or suppliers for goods or services that have been received but not yet paid for.

T Account

The simplest form of an account, which consists of an account title, a debit side, and a credit side.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left side in accounting records.

Credit

Credit refers to the trust which allows one party to provide resources (money, goods, services) to another party wherein the second party does not reimburse the first party immediately but promises to return or repay those resources (with or without interest) at a later date.