Identify a True Statement About the Decline Stage of an Industry's

question 14

Multiple Choice

Identify a true statement about the decline stage of an industry's life cycle.

• A)The market size of the product increases significantly during this stage.
• B)The increasing market growth leads to a decrease in competitive rivalry.
• C)Some firms try to minimize competition and consolidate the industry by buying rivals.
• D)A standard emerges that signals the market's agreement on a common set of engineering and design features.

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Definitions:

Control

The power to influence or direct behavior and the course of events in a business or organization.

Incredible Tenacity

Exceptional determination and persistence in facing obstacles or pursuing goals.

Small Business Owner

An individual who owns and operates a business entity which is usually defined by a lower number of employees or lower revenue compared to regular-sized corporations or businesses.

Vision For The Future

A strategic foresight or aspiration that frames an organization’s or individual's desired direction and objectives for the long-term.