The Core Goal of Successful Firms Is To

question 15

Multiple Choice

The core goal of successful firms is to:

• A)create a diverse workforce in an organization.
• B)generate long-term profits by delivering unsurpassed value to their customers.
• C)meet the rising expectations of workers.
• D)ensure free trade of goods and services within local and international markets.

---

Definitions:

Competitive Fringe

Small, less dominant firms in a market that compete at the periphery with the larger dominant firms, often by focusing on niche segments.

Price Leader

A company that has a dominant market share and can influence the pricing policies of competitors within the industry.

Dominant Firm Model

A market structure where one firm has a large market share and sets prices, while other smaller firms follow its pricing strategy.

Fringe Firms

Smaller companies in a market that compete alongside larger firms, often by serving niche segments or employing innovative strategies to maintain market presence.