Which of the Following Statements About the Competitive Environment Is

question 121

Multiple Choice

Which of the following statements about the competitive environment is most accurate?

• A) Firms that produce a quality product will always succeed in the competitive marketplace.
• B) Traditional firms will be unable to successfully compete against the new online firms unless they immediately create a way to reach customers through the Internet.
• C) Firms that empower their employees will continue to perform poorly in the competitive environment.
• D) Companies now have to offer both high-quality products and outstanding service at competitive prices.

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Definitions:

Flatter Organizational Structures

Organizational structures characterized by fewer hierarchical levels, leading to shorter chains of command and potentially greater flexibility and employee empowerment.

Overhead Costs

Expenses associated with the operation of a business that are not directly tied to a specific product or service, like rent and utilities.

Delayering

The process of reducing the number of levels in an organization's hierarchy to flatten the structure, which often aims to improve efficiency and decision-making.

Front-Line Staff

Employees who directly interact with customers, playing a critical role in customer service and satisfaction.